Centiva Capital LP Purchases New Position in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Centiva Capital LP purchased a new stake in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 62,752 shares of the company's stock, valued at approximately $658,000.

Several other hedge funds have also modified their holdings of KC. Marshall Wace LLP purchased a new position in Kingsoft Cloud during the 4th quarter worth approximately $119,000. Mirae Asset Global Investments Co. Ltd. raised its position in Kingsoft Cloud by 12.7% during the 4th 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 last quarter. Quantbot Technologies LP purchased a new position in Kingsoft Cloud during the 4th quarter worth approximately $226,000. Tower Research Capital LLC TRC raised its position in Kingsoft Cloud by 460.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,177 shares of the company's stock worth $317,000 after buying an additional 24,796 shares during the last quarter. Finally, Yeomans Consulting Group Inc. acquired a new stake in shares of Kingsoft Cloud during the 4th quarter worth approximately $318,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on KC. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective on the stock in a research note on Monday, May 5th. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th.

Kingsoft Cloud Trading Down 1.6%

NASDAQ KC traded down $0.22 during trading on Wednesday, hitting $13.73. The stock had a trading volume of 1,416,212 shares, compared to its average volume of 2,746,141. The company has a market capitalization of $3.72 billion, a PE ratio of -11.44 and a beta of 2.24. 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 50 day moving average price of $14.29 and a 200 day moving average price of $11.84. Kingsoft Cloud Holdings Limited has a twelve month low of $2.02 and a twelve month high of $22.26.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. Kingsoft Cloud's revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. As a group, equities research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

About Kingsoft Cloud

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.