2,009,195 Shares in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Purchased by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. acquired a new position in Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,009,195 shares of the company's stock, valued at approximately $21,076,000. D. E. Shaw & Co. Inc. owned approximately 0.79% of Kingsoft Cloud as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in shares of Kingsoft Cloud in the fourth quarter worth $119,000. Cetera Investment Advisers purchased a new stake in Kingsoft Cloud during the fourth quarter valued at about $138,000. Mirae Asset Global Investments Co. Ltd. raised its position in Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock valued at $205,000 after purchasing an additional 2,200 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Kingsoft Cloud during the fourth quarter valued at about $226,000. Finally, Tower Research Capital LLC TRC raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KC. Nomura Securities upgraded 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 target on the stock in a research report on Monday, May 5th.

Kingsoft Cloud Trading Up 3.3%

Shares of NASDAQ:KC traded up $0.44 on Friday, reaching $13.72. 925,854 shares of the company traded hands, compared to its average volume of 2,766,330. The business's 50-day simple moving average is $14.07 and its 200 day simple moving average is $12.06. Kingsoft Cloud Holdings Limited has a 52 week low of $2.02 and a 52 week high of $22.26. The stock has a market capitalization of $3.77 billion, a P/E ratio of -11.43 and a beta of 2.24. 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 announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same period last year, the firm earned $0.08 earnings per share. The company's revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, equities analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current fiscal year.

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.