Kingsoft Cloud Holdings Limited (NASDAQ:KC) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,354 shares of the company’s stock after buying an additional 33,411 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.13% of Kingsoft Cloud worth $1,241,000 as of its most recent SEC filing.

Separately, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Kingsoft Cloud in the third quarter worth approximately $229,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a report on Monday, March 11th. Jefferies Financial Group upped their price objective on shares of Kingsoft Cloud from $3.40 to $3.80 and gave the company a “buy” rating in a research note on Monday, March 25th. Citigroup raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Thursday, March 21st. Finally, CLSA upgraded Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price target for the company in a research report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kingsoft Cloud has a consensus rating of “Moderate Buy” and an average target price of $4.55.

Kingsoft Cloud Stock Performance

Shares of Kingsoft Cloud stock opened at $2.74 on Tuesday. Kingsoft Cloud Holdings Limited has a fifty-two week low of $2.34 and a fifty-two week high of $7.42. The firm has a market capitalization of $695.10 million, a price-to-earnings ratio of -2.12 and a beta of 2.13. The stock has a 50 day moving average of $2.96 and a 200 day moving average of $3.62.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly earnings data on Wednesday, March 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Kingsoft Cloud had a negative return on equity of 27.14% and a negative net margin of 30.81%. The business had revenue of $242.60 million for the quarter, compared to analyst estimates of $240.44 million. Analysts forecast that Kingsoft Cloud Holdings Limited will post -0.45 EPS for the current year.

Kingsoft Cloud Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations 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, storage, and delivery solutions.