Massachusetts Financial Services has recently announced that it has increased stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 1.20%. After grabbing 3.27 million shares, the institutional investor is now in possession of 38717.0 shares of the Technology Company. The new investment brought the stake of investor firm to 1.34% having worth around $8.27 million. Moreover, The Vanguard Group, Inc. increased its share by 76508.0 to have a control over 3.12 million shares. And BlackRock Fund Advisors raised its holdings to 10245.0 shares by acquiring 2.71 million shares or 1.11% of the stake.
Kingsoft Cloud Holdings Limited (KC) concluded trading on 11/23/22 at a closing price of $2.76, with 2.85 million shares of worth about $7.86 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -20.92% during that period and on Wednesday the price saw a gain of about 1.10%. Currently the company’s common shares owned by public are about 243.64M shares, out of which, 115.02M shares are available for trading.
Canada Pension Plan, KraneShares CSI China Internet ET, and MFS Emerging Markets Equity Fund are the top 3 mutual funds which are holding stakes in Kingsoft Cloud Holdings Limited Canada Pension Plan is currently holding 11.02 million shares of worth totaling $27.88 million. The company recently came buying 4.2 million shares which brought its stake up to 4.53% of the company’s outstanding shares. KraneShares CSI China Internet ET bought 6195.0 shares, after which its hold over company’s outstanding shares expand to 1.72%, leaving 4.18 million shares with the mutual fund that have a worth of about $10.58 million. MFS Emerging Markets Equity Fund, after buying 2.89 million shares, have now control over 1.19% of the stake in the company. It holds 85001.0 shares of worth $7.3 million.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) started trading at $2.79, above $0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 2.8600, or with a gain of 1.10%. Stock saw a price change of -12.38% in past 5 days and over the past one month there was a price change of 9.52%. Year-to-date (YTD), KC shares are showing a performance of -82.48% which decreased to -86.00% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.77 but also hit the highest price of $20.72 during that period. The average intraday trading volume for Kingsoft Cloud Holdings Limited shares is 2.17 million. The stock is currently trading -3.98% below its 20-day simple moving average (SMA20), while that difference is up 12.75% for SMA50 and it goes to -30.43% lower than SMA200.
Massachusetts Financial Services acquired 3.27 million shares of Kingsoft Cloud Holdings Limited having value of about $8.27 million. Data submitted at the U.S SEC by Massachusetts Financial Services revealed that the firm now holds 38717.0 shares in the company valued at close to $106858.92, or have control over 1.20% stake in the company. Kingsoft Cloud Holdings Limited (NASDAQ: KC) currently have 243.64M outstanding shares and institutions hold larger chunk of about 21.60% of that. Holding of mutual funds in the company is about 13.31% while other institutional holders and individual stake holders have control over 6.43% and — of the stake respectively.
The stock has a current market capitalization of $734.19M. It has posted earnings per share of -$1.36 in the same period. It has Quick Ratio of 1.40 while making debt-to-equity ratio of 0.16. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for KC, volatility over the week remained 10.79% while standing at 9.58% over the month.
Analysts are in expectations that Kingsoft Cloud Holdings Limited (KC) stock would likely to be making an EPS of -$0.23 in the current quarter, while forecast for next quarter EPS is -$0.2 and it is -$0.78 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.26 which is -$0.21 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.24 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -12.90% while it is estimated to increase by 16.00% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on September 07, 2022 offering a Neutral rating for the stock and assigned a target price range of between $8.50 and $3 to it. Coverage by Goldman stated Kingsoft Cloud Holdings Limited (KC) stock as a Neutral in their note to investors on April 11, 2022, suggesting a price target of $9.50 for the stock. Stock get a Neutral rating from Goldman on January 03, 2022.