Russell Investments Group Ltd. Grows Holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Russell Investments Group Ltd. grew its position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 35.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 60,595 shares of the company’s stock after buying an additional 15,913 shares during the period. Russell Investments Group Ltd.’s holdings in Kingsoft Cloud were worth $229,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 purchasing an additional 33,411 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Kingsoft Cloud in the 3rd quarter valued at about $229,000. Finally, Rafferty Asset Management LLC acquired a new stake in Kingsoft Cloud in the 3rd quarter valued at about $677,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Analyst Upgrades and Downgrades

KC has been the topic of several analyst reports. 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 on the stock in a report on Thursday, March 21st. JPMorgan Chase & Co. upgraded shares of Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a research note on Monday, March 11th. Finally, Citigroup upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.55.

Kingsoft Cloud Stock Performance

Kingsoft Cloud stock opened at $2.98 on Thursday. The company has a market cap of $756.00 million, a PE ratio of -2.31 and a beta of 2.07. The company has a fifty day moving average price of $3.12 and a two-hundred day moving average price of $3.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.89 and a quick ratio of 0.89. Kingsoft Cloud Holdings Limited has a 12 month low of $2.34 and a 12 month high of $7.42.

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

Kingsoft Cloud Profile

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.