Kingsoft Cloud (NASDAQ:KC) Stock Price Up 6.8%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares rose 6.8% during trading on Friday . The company traded as high as $2.66 and last traded at $2.66. Approximately 317,547 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 1,091,751 shares. The stock had previously closed at $2.49.

Kingsoft Cloud Stock Performance

The firm has a market cap of $662.12 million, a price-to-earnings ratio of -2.31 and a beta of 2.00. The stock’s 50 day moving average is $2.75 and its 200 day moving average is $2.88. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.03.

Kingsoft Cloud (NASDAQ:KC) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). Kingsoft Cloud had a negative net margin of 27.62% and a negative return on equity of 25.61%. The company had revenue of $245.93 million during the quarter, compared to analyst estimates of $244.03 million. Analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KC. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Kingsoft Cloud by 11.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 328,354 shares of the company’s stock worth $1,241,000 after purchasing an additional 33,411 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Kingsoft Cloud by 35.6% during the 4th quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock worth $229,000 after purchasing an additional 15,913 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Kingsoft Cloud during the 4th quarter worth approximately $136,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Kingsoft Cloud by 50.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock worth $58,000 after purchasing an additional 5,126 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its position in shares of Kingsoft Cloud by 3.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock worth $2,363,000 after purchasing an additional 20,084 shares in the last quarter. Institutional investors and hedge funds own 13.40% of the company’s stock.

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.