Kingsoft Cloud (NASDAQ:KC) Stock Price Up 6.3%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) rose 6.3% on Wednesday . The company traded as high as $31.33 and last traded at $31.18. Approximately 10,178 shares were traded during trading, a decline of 99% from the average daily volume of 1,622,715 shares. The stock had previously closed at $29.34.

Separately, Zacks Investment Research raised Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 17th.

The company has a market cap of $7.00 billion, a PE ratio of -56.73 and a beta of 1.80. The stock has a 50-day simple moving average of $29.65 and a 200 day simple moving average of $36.55.

Kingsoft Cloud (NASDAQ:KC) last posted its earnings results on Tuesday, August 24th. The company reported ($1.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.10). Kingsoft Cloud had a negative net margin of 10.68% and a negative return on equity of 10.07%. The business had revenue of $336.66 million during the quarter, compared to analysts’ expectations of $335.16 million. On average, equities research analysts predict that Kingsoft Cloud Holdings Limited will post -0.81 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Kingsoft Cloud by 8.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,211 shares of the company’s stock valued at $284,000 after buying an additional 532 shares during the period. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Kingsoft Cloud by 2.8% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 25,023 shares of the company’s stock valued at $984,000 after buying an additional 684 shares during the period. American International Group Inc. purchased a new stake in shares of Kingsoft Cloud in the 1st quarter valued at $28,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Kingsoft Cloud by 11.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 9,880 shares of the company’s stock valued at $388,000 after buying an additional 980 shares during the period. Finally, Schroder Investment Management Group raised its holdings in shares of Kingsoft Cloud by 43.6% in the 1st quarter. Schroder Investment Management Group now owns 3,551 shares of the company’s stock valued at $140,000 after buying an additional 1,078 shares during the period. Hedge funds and other institutional investors own 29.78% of the company’s stock.

Kingsoft Cloud Company Profile (NASDAQ:KC)

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; enterprise cloud services to customers in financial service, public service, and healthcare business, and others.

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