Tiger Pacific Capital LP Makes New $6.04 Million Investment in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Tiger Pacific Capital LP purchased a new position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 575,504 shares of the company's stock, valued at approximately $6,037,000. Kingsoft Cloud accounts for 1.6% of Tiger Pacific Capital LP's investment portfolio, making the stock its 12th biggest position. Tiger Pacific Capital LP owned approximately 0.23% of Kingsoft Cloud as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of KC. D. E. Shaw & Co. Inc. purchased a new stake in Kingsoft Cloud during the 4th quarter worth about $21,076,000. Millennium Management LLC boosted its position in shares of Kingsoft Cloud by 4,098.3% during the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock worth $9,389,000 after acquiring an additional 873,686 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Kingsoft Cloud by 628.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock worth $8,464,000 after acquiring an additional 696,094 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Kingsoft Cloud during the 4th quarter worth about $6,179,000. Finally, Renaissance Technologies LLC boosted its position in shares of Kingsoft Cloud by 69.8% during the 4th quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock worth $9,105,000 after acquiring an additional 356,834 shares in the last quarter. Hedge funds and other institutional investors own 13.40% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on KC. Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective for the company in a research report on Monday, May 5th. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th.

Kingsoft Cloud Stock Performance

Shares of NASDAQ KC traded down $0.45 during trading hours on Wednesday, reaching $13.51. The stock had a trading volume of 953,447 shares, compared to its average volume of 2,758,912. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -11.26 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 Holdings Limited has a fifty-two week low of $2.02 and a fifty-two week high of $22.26. The firm has a 50-day moving average of $13.95 and a 200-day moving average of $12.22.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last announced its earnings results 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. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The business's revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. Equities research analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current 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.