Voloridge Investment Management LLC Acquires New Holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Voloridge Investment Management LLC acquired a new stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,558,173 shares of the company's stock, valued at approximately $16,345,000. Voloridge Investment Management LLC owned approximately 0.61% of Kingsoft Cloud as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Marshall Wace LLP acquired a new position in shares of Kingsoft Cloud in the fourth quarter worth approximately $119,000. Cetera Investment Advisers bought a new stake in Kingsoft Cloud in the fourth quarter worth approximately $138,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock valued at $205,000 after acquiring an additional 2,200 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Kingsoft Cloud during the fourth quarter valued at approximately $226,000. Finally, Two Sigma Advisers LP increased its holdings in shares of Kingsoft Cloud by 13.8% during the fourth quarter. Two Sigma Advisers LP now owns 27,200 shares of the company's stock valued at $285,000 after acquiring an additional 3,300 shares in the last quarter. 13.40% of the stock is owned by institutional investors and hedge funds.

Kingsoft Cloud Stock Performance

KC stock traded down $0.06 during midday trading on Thursday, hitting $11.82. The company's stock had a trading volume of 948,346 shares, compared to its average volume of 2,766,910. The stock's 50-day moving average price is $13.43 and its 200 day moving average price is $12.55. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. Kingsoft Cloud Holdings Limited has a 1 year low of $2.02 and a 1 year high of $22.26. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -9.84 and a beta of 2.24.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share 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 business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The business's revenue was up 29.6% on a year-over-year basis. On average, equities analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on KC. 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 report on Monday, May 5th. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th.

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.