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

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) rose 6.8% during trading on Friday . The stock 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 Price Performance

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $662.12 million, a P/E ratio of -2.31 and a beta of 2.00. The company’s 50-day simple moving average is $2.75 and its 200 day simple moving average is $2.88.

Kingsoft Cloud (NASDAQ:KC) last posted its earnings results on Wednesday, May 22nd. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.08). The business had revenue of $245.93 million during the quarter, compared to the consensus estimate of $244.03 million. Kingsoft Cloud had a negative return on equity of 25.61% and a negative net margin of 27.62%. As a group, sell-side analysts expect that Kingsoft Cloud Holdings Limited will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kingsoft Cloud

Several large investors have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new position in Kingsoft Cloud during the 2nd quarter valued at $36,000. Swedbank AB raised its stake in Kingsoft Cloud by 5.5% during the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock valued at $565,000 after purchasing an additional 11,800 shares during the last quarter. Sei Investments Co. raised its stake in Kingsoft Cloud by 33.6% during the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after purchasing an additional 35,175 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Kingsoft Cloud by 95.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock valued at $1,947,000 after purchasing an additional 312,132 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in Kingsoft Cloud by 3.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock valued at $2,363,000 after purchasing an additional 20,084 shares during the last quarter. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.