Vident Advisory LLC Purchases 55,113 Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Vident Advisory LLC grew its position in Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) by 158.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,794 shares of the company's stock after buying an additional 55,113 shares during the quarter. Vident Advisory LLC's holdings in Kingsoft Cloud were worth $942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock worth $205,000 after purchasing an additional 2,200 shares in the last quarter. Man Group plc purchased a new stake in shares of Kingsoft Cloud in the fourth quarter worth approximately $711,000. Quantbot Technologies LP purchased a new stake in shares of Kingsoft Cloud in the fourth quarter worth approximately $226,000. Invesco Ltd. lifted its position in shares of Kingsoft Cloud by 8.4% in the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company's stock worth $659,000 after purchasing an additional 4,878 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Kingsoft Cloud in the fourth quarter worth approximately $119,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KC shares. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research 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 target for the company in a research report on Monday, May 5th.

Kingsoft Cloud Stock Down 5.5%

KC traded down $0.64 during midday trading on Friday, hitting $11.17. 919,923 shares of the company's stock traded hands, compared to its average volume of 2,772,106. The company has a market cap of $3.07 billion, a PE ratio of -9.29 and a beta of 2.24. The stock's fifty day simple moving average is $13.35 and its 200-day simple moving average is $12.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. Kingsoft Cloud Holdings Limited has a one year low of $2.02 and a one year high of $22.26.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued 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 firm had revenue of $2.23 billion for 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%. The company's revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. As a group, equities analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

Kingsoft Cloud Company 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.