Kingsoft Cloud Holdings Limited (NASDAQ: KC) Seen Running Too Hot, Let’s Look At This More Closely

GLBE Stock
GLBE Stock

Carmignac Gestion SA recently announced the acquisition of new stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC). This fresh investment now brings its stake to 1.63% valued currently at $120.22 million. In addition, Canada Pension Plan Investment Bo.. raised its holdings by 3.33 million to 3.33 million shares.

With over 1.01 million Kingsoft Cloud Holdings Limited (KC) shares trading Friday and a closing price of $34.92 on the day, the dollar volume was approximately $35.14 million. The shares have shown a positive weekly performance of 1.93% and its price on 08/28/20 lost nearly -2.65%. Currently, there are 147.93M common shares owned by the public and among those 25.78M shares have been available to trade.

Incidentally, analysts’ outlook for the Kingsoft Cloud Holdings Limited stock is 2.00 for the next 12 months.

The top 3 mutual fund holders in Kingsoft Cloud Holdings Limited are Carmignac Investissement, Matthews Pacific Tiger Fund, and PineBridge Global Funds – Asia (e. Carmignac Investissement owns 2.12 million shares of the company’s stock, all valued at over $74.49 million. The company sold -0.11 million shares recently to bring their total holdings to about 1.01% of the shares outstanding. Matthews Pacific Tiger Fund bought 0.26 million shares to see its total holdings expand to 0.99 million shares valued at over $34.85 million and representing 0.47% of the shares outstanding. PineBridge Global Funds – Asia (e bought 0.92 million shares to bring its total holdings to over 0.92 million shares at a value of $32.36 million. PineBridge Global Funds – Asia (e now owns shares totaling to 0.44% of the shares outstanding.

Shares of Kingsoft Cloud Holdings Limited (NASDAQ: KC) opened at $35.64, down -$0.23 from a prior closing price of $35.87. However, the script later closed the day at $34.92, down -2.65%. The company’s stock has a 5-day price change of 1.93% and 63.25% over the past three months. It has a 12-month low price of $17.01 and touched a high of $42.80 over the same period. Currently, 1.01 million shares have been traded, compared to an average intraday trading volume of 1.61 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 0.57%, 4.88%, and 20.29% respectively.

Institutional ownership of Kingsoft Cloud Holdings Limited (NASDAQ: KC) shares accounts for 10.10% of the company’s 147.93M shares outstanding. Mutual fund holders own 4.98%, while other institutional holders and individual stakeholders account for 5.42% and — respectively.

It has a market capitalization of $7.52B. The earnings-per-share (ttm) stands at -$1.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.23% over the week and 7.07% over the month.

Analysts forecast that Kingsoft Cloud Holdings Limited (KC) will achieve an EPS of -$0.16 for the current quarter, -$0.16 for the next quarter and -$0.52 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of -$0.15. Earnings per share for the fiscal year are expected to increase by 33.60%, and 35.00% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Kingsoft Cloud Holdings Limited (KC) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 1 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the KC, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on June 29, 2020, with the firm’s price target at $34. JP Morgan coverage for the Kingsoft Cloud Holdings Limited (KC) stock in a research note released on June 08, 2020 offered a Overweight rating with a price target of $27.


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