Cresset Asset Management LLC Sells 18,666 Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Cresset Asset Management LLC decreased its holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,665 shares of the company's stock after selling 18,666 shares during the quarter. Cresset Asset Management LLC's holdings in Kingsoft Cloud were worth $1,004,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers purchased a new stake in Kingsoft Cloud in the fourth quarter worth $138,000. Centiva Capital LP purchased a new position in shares of Kingsoft Cloud during the 4th quarter worth approximately $658,000. BNP Paribas Financial Markets acquired a new position in Kingsoft Cloud in the fourth quarter valued at $2,159,000. Tower Research Capital LLC TRC grew its holdings in shares of Kingsoft Cloud by 460.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 30,177 shares of the company's stock valued at $317,000 after purchasing an additional 24,796 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Kingsoft Cloud during the fourth quarter worth $119,000. Institutional investors own 13.40% of the company's stock.

Kingsoft Cloud Price Performance

Shares of KC stock traded up $0.44 during trading hours on Friday, hitting $13.72. 925,854 shares of the company's stock were exchanged, compared to its average volume of 2,766,330. The company has a market capitalization of $3.77 billion, a PE ratio of -11.43 and a beta of 2.24. The business's 50 day simple moving average is $14.07 and its 200-day simple moving average is $12.13. Kingsoft Cloud Holdings Limited has a 12-month low of $2.02 and a 12-month high of $22.26. 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 issued its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.06. The business 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%. The company's revenue for the quarter was up 29.6% on a year-over-year basis. During the same period last year, the company earned $0.08 EPS. On average, equities research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

Analyst Ratings Changes

KC has been the topic of several recent research reports. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price on the stock in a report on Monday, May 5th. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating 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.