Millennium Management LLC Has $9.39 Million Stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Millennium Management LLC raised its position in Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) by 4,098.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 895,004 shares of the company's stock after purchasing an additional 873,686 shares during the quarter. Millennium Management LLC owned 0.35% of Kingsoft Cloud worth $9,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in KC. D. E. Shaw & Co. Inc. bought a new position in shares of Kingsoft Cloud during the fourth quarter worth about $21,076,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Kingsoft Cloud by 628.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock valued at $8,464,000 after acquiring an additional 696,094 shares during the last quarter. Jump Financial LLC acquired a new stake in Kingsoft Cloud during the 4th quarter valued at approximately $6,179,000. Renaissance Technologies LLC raised its holdings in 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 purchasing an additional 356,834 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Kingsoft Cloud during the 4th quarter worth approximately $2,990,000. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Trading Down 1.2%

KC stock traded down $0.16 during mid-day trading on Tuesday, reaching $12.90. The company's stock had a trading volume of 1,476,825 shares, compared to its average volume of 2,763,137. 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. The business's 50 day moving average price is $13.57 and its 200 day moving average price is $12.55. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -10.75 and a beta of 2.24.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 net margin of 28.41% and a negative return on equity of 19.13%. Kingsoft Cloud's revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. On average, equities research analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Analyst Upgrades and Downgrades

KC has been the topic of a number of analyst reports. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. Nomura upgraded 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.

About Kingsoft Cloud

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.