Two Sigma Investments LP Makes New $6.38 Million Investment in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Two Sigma Investments LP bought a new position in Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 608,004 shares of the company's stock, valued at approximately $6,378,000. Two Sigma Investments LP owned approximately 0.24% of Kingsoft Cloud at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in KC. Tiger Pacific Capital LP bought a new stake in Kingsoft Cloud during the fourth quarter worth approximately $6,037,000. Man Group plc bought a new stake in Kingsoft Cloud during the fourth quarter worth approximately $711,000. Millennium Management LLC increased its stake in Kingsoft Cloud by 4,098.3% during 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Kingsoft Cloud by 10.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 331,196 shares of the company's stock worth $3,474,000 after acquiring an additional 30,350 shares during the last quarter. Finally, Deutsche Bank AG grew its stake 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 valued at $2,322,000 after buying an additional 87,440 shares during the last quarter. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on KC. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price on the stock in a research note on Monday, May 5th.

Kingsoft Cloud Trading Down 6.4%

Shares of KC traded down $0.75 during mid-day trading on Friday, reaching $11.06. 2,410,119 shares of the company's stock traded hands, compared to its average volume of 2,792,030. The stock has a market cap of $3.04 billion, a P/E ratio of -9.22 and a beta of 2.24. The stock's 50-day moving average is $13.26 and its two-hundred day moving average is $12.70. Kingsoft Cloud Holdings Limited has a 12 month low of $2.02 and a 12 month high of $22.26. 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 (NASDAQ:KC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 19.13% and a negative net margin of 28.41%. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Kingsoft Cloud's revenue was up 29.6% compared to the same quarter last year. Research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

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.