Swedbank AB Decreases Holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Swedbank AB lowered its holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 41.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 131,640 shares of the company’s stock after selling 93,500 shares during the quarter. Swedbank AB owned about 0.05% of Kingsoft Cloud worth $387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Kingsoft Cloud by 95.1% in 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 buying an additional 312,132 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Kingsoft Cloud by 33.6% during the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after purchasing an additional 35,175 shares during the last quarter. Blue Trust Inc. acquired a new stake in shares of Kingsoft Cloud during the second quarter worth about $36,000. Headlands Technologies LLC lifted its holdings in shares of Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after buying an additional 17,700 shares during the last quarter. Institutional investors and hedge funds own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Bank of America reduced their price objective on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4.10.

Kingsoft Cloud Stock Performance

NASDAQ KC opened at $2.78 on Friday. The firm has a market cap of $705.25 million, a P/E ratio of -2.46 and a beta of 2.00. Kingsoft Cloud Holdings Limited has a 52-week low of $2.02 and a 52-week high of $5.80. The business’s 50-day moving average price is $2.64 and its 200 day moving average price is $2.76. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03.

Kingsoft Cloud (NASDAQ:KC) last released its earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. The company had revenue of $260.32 million during the quarter, compared to analyst estimates of $251.17 million. On average, equities research analysts expect that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share 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.