JPMorgan Chase & Co. Reduces Stock Holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

JPMorgan Chase & Co. decreased its position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) by 73.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,081 shares of the company's stock after selling 73,528 shares during the quarter. JPMorgan Chase & Co.'s holdings in Kingsoft Cloud were worth $284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Kingsoft Cloud by 12.7% in the 4th 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 during the period. Quantbot Technologies LP bought a new stake in shares of Kingsoft Cloud during the fourth quarter valued at approximately $226,000. Yeomans Consulting Group Inc. acquired a new position in shares of Kingsoft Cloud during the fourth quarter worth approximately $318,000. XY Capital Ltd lifted its holdings in shares of Kingsoft Cloud by 19.1% in the 4th quarter. XY Capital Ltd now owns 86,567 shares of the company's stock worth $908,000 after purchasing an additional 13,909 shares in the last quarter. Finally, WT Asset Management Ltd acquired a new stake in Kingsoft Cloud in the 4th quarter valued at $2,613,000. Institutional investors and hedge funds own 13.40% of the company's stock.

Analyst Ratings Changes

KC has been the topic of a number of recent research reports. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price target for the company in a research note on Monday.

Kingsoft Cloud Stock Up 0.5 %

KC traded up $0.07 during mid-day trading on Thursday, reaching $14.15. 457,188 shares of the stock were exchanged, compared to its average volume of 2,725,127. The company has a 50 day moving average price of $14.48 and a two-hundred day moving average price of $11.46. The stock has a market capitalization of $3.83 billion, a PE ratio of -11.79 and a beta of 2.24. 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 1 year low of $2.02 and a 1 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 (EPS) 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 prior year, the firm posted $0.08 EPS. The firm's quarterly revenue was up 29.6% compared to the same quarter last year. As a group, research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current 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.