Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) by 628.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 806,902 shares of the company's stock after acquiring an additional 696,094 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.32% of Kingsoft Cloud worth $8,464,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Walleye Capital LLC purchased a new position in Kingsoft Cloud in the 3rd quarter worth $119,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock worth $205,000 after buying an additional 2,200 shares during the period. Yeomans Consulting Group Inc. bought a new stake in shares of Kingsoft Cloud in the 4th quarter valued at about $318,000. GSA Capital Partners LLP boosted its holdings in Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock valued at $507,000 after acquiring an additional 81,751 shares during the period. Finally, XY Capital Ltd boosted its holdings in Kingsoft Cloud by 19.1% during the 4th quarter. XY Capital Ltd now owns 86,567 shares of the company's stock valued at $908,000 after acquiring an additional 13,909 shares during the period. 13.40% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have commented on KC. Nomura Securities cut Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. UBS Group raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura cut shares of Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Kingsoft Cloud presently has an average rating of "Moderate Buy" and an average price target of $5.93.
Check Out Our Latest Stock Analysis on KC
Kingsoft Cloud Trading Up 1.9 %
Shares of KC traded up $0.35 during mid-day trading on Wednesday, hitting $18.44. 6,517,289 shares of the company's stock traded hands, compared to its average volume of 2,354,638. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.68 billion, a P/E ratio of -15.37 and a beta of 2.23. The business's 50-day moving average price is $15.11 and its 200-day moving average price is $8.72. Kingsoft Cloud Holdings Limited has a 1 year low of $2.02 and a 1 year high of $22.26.
Kingsoft Cloud (NASDAQ:KC - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the firm posted $0.08 EPS. The company's revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current fiscal year.
Kingsoft Cloud Company Profile
(
Free Report)
Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.
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