BNP Paribas Financial Markets Invests $2.16 Million in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

BNP Paribas Financial Markets purchased a new stake in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 205,775 shares of the company's stock, valued at approximately $2,159,000. BNP Paribas Financial Markets owned approximately 0.08% of Kingsoft Cloud at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Kingsoft Cloud by 628.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock worth $8,464,000 after purchasing an additional 696,094 shares during the period. Jump Financial LLC acquired a new stake in Kingsoft Cloud during the 4th quarter valued at approximately $6,179,000. Renaissance Technologies LLC lifted its stake in Kingsoft Cloud by 69.8% during the 4th quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock valued at $9,105,000 after acquiring an additional 356,834 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Kingsoft Cloud in the 4th quarter valued at $2,990,000. Finally, WT Asset Management Ltd acquired a new stake in shares of Kingsoft Cloud in the fourth quarter worth $2,613,000. Hedge funds and other institutional investors own 13.40% of the company's stock.

Kingsoft Cloud Stock Performance

Kingsoft Cloud stock traded up $0.10 during mid-day trading on Thursday, hitting $13.61. The company had a trading volume of 200,084 shares, compared to its average volume of 2,748,909. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -11.32 and a beta of 2.24. Kingsoft Cloud Holdings Limited has a 12-month low of $2.02 and a 12-month high of $22.26. The company's fifty day moving average is $13.87 and its 200-day moving average is $12.23. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective for the company in a research note on Monday, May 5th.

Kingsoft Cloud Profile

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.