Kingsoft Cloud Holdings Limited (NASDAQ:KC) Holdings Lifted by Millennium Management LLC

Millennium Management LLC raised its position in Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 4,098.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 895,004 shares of the company’s stock after purchasing an additional 873,686 shares during the quarter. Millennium Management LLC owned about 0.35% of Kingsoft Cloud worth $9,389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Marshall Wace LLP acquired a new stake in Kingsoft Cloud in the fourth quarter worth about $119,000. Cetera Investment Advisers acquired a new stake in shares of Kingsoft Cloud in the 4th quarter worth approximately $138,000. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $205,000 after acquiring an additional 2,200 shares during the period. Quantbot Technologies LP bought a new position in shares of Kingsoft Cloud in the fourth quarter valued at approximately $226,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Kingsoft Cloud by 460.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 30,177 shares of the company’s stock valued at $317,000 after acquiring an additional 24,796 shares during the period. Institutional investors own 13.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 target price for the company in a research report on Monday, May 5th. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Monday, May 5th.

Kingsoft Cloud Stock Down 2.6%

NASDAQ KC opened at $13.06 on Monday. Kingsoft Cloud Holdings Limited has a 12 month low of $2.02 and a 12 month high of $22.26. The company has a market capitalization of $3.59 billion, a P/E ratio of -10.88 and a beta of 2.24. The company’s 50 day simple moving average is $13.68 and its 200 day simple moving average is $12.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.11 billion. During the same quarter in the previous year, the business posted $0.08 earnings per share. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. Equities research analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

About Kingsoft Cloud

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.