Public Employees Retirement System of Ohio Purchases New Position in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Public Employees Retirement System of Ohio acquired a new position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,026 shares of the company's stock, valued at approximately $609,000.

Several other large investors have also recently added to or reduced their stakes in KC. Mirae Asset Global Investments Co. Ltd. increased its stake 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 valued at $205,000 after buying an additional 2,200 shares in the last quarter. Man Group plc bought a new stake in Kingsoft Cloud during the 4th quarter worth about $711,000. Quantbot Technologies LP acquired a new stake in Kingsoft Cloud in the 4th quarter valued at about $226,000. Invesco Ltd. raised its stake 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 acquiring an additional 4,878 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Kingsoft Cloud by 4,098.3% in the fourth 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 during the last quarter. 13.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on KC. 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 Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective on the stock in a research report on Monday, May 5th.

Kingsoft Cloud Trading Down 3.2%

Kingsoft Cloud stock traded down $0.40 during trading hours on Friday, reaching $11.97. 1,820,985 shares of the company's stock traded hands, compared to its average volume of 2,817,067. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -9.98 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. Kingsoft Cloud Holdings Limited has a fifty-two week low of $2.02 and a fifty-two week high of $22.26. The firm's 50 day moving average is $12.96 and its 200-day moving average is $12.98.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the firm posted $0.08 earnings per share. Kingsoft Cloud's revenue for the quarter was up 29.6% compared to the same quarter last year. On average, 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.