Marshall Wace LLP Invests $119,000 in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Marshall Wace LLP purchased a new stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,300 shares of the company’s stock, valued at approximately $119,000.

Several other hedge funds have also added to or reduced their stakes in the business. Yeomans Consulting Group Inc. acquired a new stake in shares of Kingsoft Cloud during the fourth quarter worth $318,000. WT Asset Management Ltd acquired a new stake in Kingsoft Cloud in the 4th quarter worth about $2,613,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 purchasing an additional 2,200 shares during the period. XY Capital Ltd grew its position 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Kingsoft Cloud by 628.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company’s stock worth $8,464,000 after purchasing an additional 696,094 shares during the period. Institutional investors and hedge funds own 13.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on KC. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 price objective on the stock in a research note on Monday. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Monday.

Kingsoft Cloud Stock Performance

Kingsoft Cloud stock opened at $15.25 on Wednesday. The stock has a market cap of $4.13 billion, a PE ratio of -12.71 and a beta of 2.24. 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 12-month low of $2.02 and a 12-month high of $22.26. The business’s 50-day moving average price is $14.52 and its two-hundred day moving average price is $11.44.

Kingsoft Cloud (NASDAQ:KC) last released 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. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. As a group, analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

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.