Tiger Pacific Capital LP Purchases New Position in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Tiger Pacific Capital LP purchased a new stake in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) in the 4th quarter, Holdings Channel reports. The fund purchased 575,504 shares of the company’s stock, valued at approximately $6,037,000. Kingsoft Cloud accounts for about 1.6% of Tiger Pacific Capital LP’s holdings, making the stock its 12th largest position.

A number of other institutional investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after acquiring an additional 2,200 shares during the last quarter. Invesco Ltd. raised its stake in shares of Kingsoft Cloud by 8.4% during the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company’s stock worth $659,000 after buying an additional 4,878 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Kingsoft Cloud during the fourth quarter worth approximately $119,000. Cetera Investment Advisers bought a new stake in shares of Kingsoft Cloud during the fourth quarter worth approximately $138,000. Finally, XY Capital Ltd raised its stake in shares of Kingsoft Cloud by 19.1% during the fourth quarter. XY Capital Ltd now owns 86,567 shares of the company’s stock worth $908,000 after buying an additional 13,909 shares during the last quarter. 13.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Kingsoft Cloud Stock Up 3.3%

Shares of NASDAQ KC opened at $13.72 on Friday. The firm has a 50 day moving average price of $14.07 and a 200 day moving average price of $12.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. Kingsoft Cloud Holdings Limited has a 52-week low of $2.02 and a 52-week high of $22.26. The stock has a market cap of $3.77 billion, a P/E ratio of -11.43 and a beta of 2.24.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the business posted $0.08 EPS. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. Analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Kingsoft Cloud 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.