D. E. Shaw & Co. Inc. acquired a new position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,009,195 shares of the company's stock, valued at approximately $21,076,000. D. E. Shaw & Co. Inc. owned 0.79% of Kingsoft Cloud at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Marshall Wace LLP bought a new position in shares of Kingsoft Cloud in the 4th quarter valued at $119,000. Cetera Investment Advisers bought a new position in shares of Kingsoft Cloud in the 4th quarter worth about $138,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock worth $205,000 after acquiring an additional 2,200 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Kingsoft Cloud in the 4th quarter worth about $226,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Kingsoft Cloud by 460.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 30,177 shares of the company's stock worth $317,000 after acquiring an additional 24,796 shares in the last quarter. Institutional investors own 13.40% of the company's stock.
Wall Street Analysts Forecast Growth
KC has been the subject of a number of research analyst reports. Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price for the company in a research report 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.
Check Out Our Latest Research Report on Kingsoft Cloud
Kingsoft Cloud Price Performance
Kingsoft Cloud stock traded down $0.49 during midday trading on Thursday, hitting $13.28. 1,810,515 shares of the company's stock were exchanged, compared to its average volume of 2,749,717. Kingsoft Cloud Holdings Limited has a 52-week low of $2.02 and a 52-week high of $22.26. The stock has a 50-day moving average price of $14.22 and a two-hundred day moving average price of $11.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $3.65 billion, a P/E ratio of -11.07 and a beta of 2.24.
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 analysts' consensus estimates of ($0.11) by $0.06. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates 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 for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 EPS. On average, equities research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.
Kingsoft Cloud Profile
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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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