Two Sigma Investments LP Acquires New Holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Two Sigma Investments LP bought a new stake in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) during the 4th quarter, Holdings Channel.com reports. The fund bought 608,004 shares of the company’s stock, valued at approximately $6,378,000.

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

Analyst Upgrades and Downgrades

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

Kingsoft Cloud Price Performance

Shares of KC opened at $13.06 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The company’s fifty day moving average price is $13.57 and its 200-day moving average price is $12.55. Kingsoft Cloud Holdings Limited has a 1-year low of $2.02 and a 1-year high of $22.26. The firm has a market capitalization of $3.59 billion, a PE ratio of -10.88 and a beta of 2.24.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, equities research analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current 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.