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

JPMorgan Chase & Co. cut its position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 73.1% during the 4th quarter, according to the company in its most recent Form 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.

A number of other institutional investors have also added to or reduced their stakes in KC. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 worth $205,000 after buying an additional 2,200 shares during the last quarter. Quantbot Technologies LP purchased a new position in Kingsoft Cloud in the fourth quarter valued at about $226,000. Yeomans Consulting Group Inc. bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at approximately $318,000. XY Capital Ltd increased its stake in shares of Kingsoft Cloud by 19.1% during 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 during the last quarter. Finally, WT Asset Management Ltd bought a new stake in shares of Kingsoft Cloud in the 4th quarter worth approximately $2,613,000. 13.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on KC shares. Nomura downgraded Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Nomura Securities cut Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Kingsoft Cloud Stock Performance

Shares of KC opened at $15.23 on Friday. Kingsoft Cloud Holdings Limited has a 52-week low of $2.02 and a 52-week high of $22.26. The stock’s 50-day simple moving average is $14.61 and its 200 day simple moving average is $11.21. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of -12.69 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. Kingsoft Cloud’s revenue was up 29.6% compared to the same quarter last year. During the same period last year, the business earned $0.08 earnings per share. Research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current fiscal 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.