Russell Investments Group Ltd. Acquires 15,913 Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Russell Investments Group Ltd. boosted its holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KCFree Report) by 35.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,595 shares of the company’s stock after acquiring an additional 15,913 shares during the quarter. Russell Investments Group Ltd.’s holdings in Kingsoft Cloud were worth $229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Kingsoft Cloud by 11.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 328,354 shares of the company’s stock valued at $1,241,000 after buying an additional 33,411 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Kingsoft Cloud in the 3rd quarter valued at about $229,000. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter worth approximately $677,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Stock Down 6.6 %

Kingsoft Cloud stock opened at $2.98 on Thursday. Kingsoft Cloud Holdings Limited has a 1-year low of $2.34 and a 1-year high of $7.42. The firm has a market capitalization of $756.00 million, a price-to-earnings ratio of -2.31 and a beta of 2.07. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $3.12 and a 200 day simple moving average of $3.38.

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

Wall Street Analyst Weigh In

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

Get Our Latest Stock Analysis on Kingsoft Cloud

About Kingsoft Cloud

(Free Report)

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.

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Institutional Ownership by Quarter for Kingsoft Cloud (NASDAQ:KC)

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