Invesco Ltd. Grows Stock Position in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Invesco Ltd. lifted its holdings in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 8.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 62,855 shares of the company’s stock after acquiring an additional 4,878 shares during the period. Invesco Ltd.’s holdings in Kingsoft Cloud were worth $659,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of KC. Mirae Asset Global Investments Co. Ltd. lifted its position in Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after acquiring an additional 2,200 shares during the period. Quantbot Technologies LP purchased a new position in shares of Kingsoft Cloud in the fourth quarter worth about $226,000. Yeomans Consulting Group Inc. acquired a new stake in shares of Kingsoft Cloud during the fourth quarter worth about $318,000. HCEP Management Ltd purchased a new stake in Kingsoft Cloud in the fourth quarter valued at approximately $535,000. Finally, XY Capital Ltd increased its holdings in 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 buying an additional 13,909 shares during the period. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Trading Up 9.0 %

Shares of NASDAQ:KC opened at $15.23 on Friday. The company has a market capitalization of $4.13 billion, a PE ratio of -12.69 and a beta of 2.23. Kingsoft Cloud Holdings Limited has a 12-month low of $2.02 and a 12-month high of $22.26. The business has a 50 day moving average of $14.61 and a two-hundred day moving average of $11.21. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

Kingsoft Cloud (NASDAQ:KC) last announced its quarterly earnings results 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 firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm posted $0.08 earnings per share. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. As a group, analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on KC. Nomura Securities cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Nomura lowered shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd.

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.