Canada Pension Plan Investment Bo recently announced the acquisition of new stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC). The institutional investor has increased its shareholding in the Technology company by 46.28% to 15.99 million shares with purchase of 5.06 million shares. This fresh investment now brings its stake to 6.30% valued currently at $91.63 million. In addition, Alpha Square Group S LLC raised its holdings by 0.23 million to 3.27 million shares. And BlackRock Fund Advisors has lifted its position by 17.29% or 0.41 million shares – to 2.81 million shares.
With over 2.83 million Kingsoft Cloud Holdings Limited (KC) shares trading Tuesday and a closing price of $4.34 on the day, the dollar volume was approximately $12.27 million. The shares have shown a positive half year performance of 43.23% and its price on 05/23/23 lost nearly -8.63%. Currently, there are 235.44M common shares owned by the public and among those 107.15M shares have been available to trade.
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The top 3 mutual fund holders in Kingsoft Cloud Holdings Limited are Canada Pension Plan, MFS Emerging Markets Equity Fund, and R Valor. Canada Pension Plan owns 11.02 million shares of the company’s stock, all valued at over $63.15 million. The company bought an additional 4.2 million shares recently to bring their total holdings to about 4.34% of the shares outstanding. MFS Emerging Markets Equity Fund sold 49341.0 shares to see its total holdings shrink to 2.94 million shares valued at over $16.82 million and representing 1.16% of the shares outstanding. R Valor now owns shares totaling to 0.64% of the shares outstanding.
Shares of Kingsoft Cloud Holdings Limited (NASDAQ: KC) opened at $4.49, down -$0.26 from a prior closing price of $4.75. However, the script later moved the day high at 4.4600, down -8.63%. The company’s stock has a 5-day price change of -13.55% and 0.93% over the past three months. KC shares are trading 13.32% year to date (YTD), with the 12-month market performance up to 18.26% higher. It has a 12-month low price of $1.77 and touched a high of $10.13 over the same period. KC has an average intraday trading volume of 2.68 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -16.95%, -29.81%, and 6.43% respectively.
Institutional ownership of Kingsoft Cloud Holdings Limited (NASDAQ: KC) shares accounts for 21.90% of the company’s 235.44M shares outstanding. Mutual fund holders own 10.84%, while other institutional holders and individual stakeholders account for 7.88% and — respectively.
It has a market capitalization of $1.19B. The earnings-per-share (ttm) stands at -$1.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.67% over the week and 6.91% over the month.
Analysts forecast that Kingsoft Cloud Holdings Limited (KC) will achieve an EPS of -$0.23 for the current quarter, -$0.2 for the next quarter and -$0.54 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.23 while analysts give the company a high EPS estimate of -$0.23. Comparatively, EPS for the current quarter was -$0.27 a year ago. Earnings per share for the fiscal year are expected to decrease by -58.90%, and 25.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Kingsoft Cloud Holdings Limited (KC) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 5 of the 12 advise that investors “hold,” and 2 rated it as a “Sell.”
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