MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 331,196 shares of the company's stock after acquiring an additional 30,350 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.13% of Kingsoft Cloud worth $3,474,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of KC. Deutsche Bank AG grew its position in shares of Kingsoft Cloud by 65.3% during the fourth quarter. Deutsche Bank AG now owns 221,384 shares of the company's stock worth $2,322,000 after purchasing an additional 87,440 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Kingsoft Cloud during the fourth quarter worth about $21,076,000. Cetera Investment Advisers purchased a new position in Kingsoft Cloud in the 4th quarter worth approximately $138,000. Centiva Capital LP acquired a new stake in shares of Kingsoft Cloud during the fourth quarter worth about $658,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Kingsoft Cloud in the fourth quarter valued at about $2,159,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Kingsoft Cloud Stock Down 2.6%

NASDAQ KC traded down $0.35 during mid-day trading on Friday, hitting $13.06. The company's stock had a trading volume of 1,958,866 shares, compared to its average volume of 2,768,253. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -10.88 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 twelve month low of $2.02 and a twelve month high of $22.26. The company's 50 day simple moving average is $13.68 and its 200 day simple moving average is $12.49.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company earned $0.08 EPS. The firm's quarterly revenue was up 29.6% on a year-over-year basis. 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 research reports. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th. Nomura raised shares of 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.

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.