Kingsoft Cloud (NASDAQ:KC) announced its quarterly earnings results on Tuesday. The company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($1.24), Fidelity Earnings reports. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.44 billion. Kingsoft Cloud had a negative net margin of 10.68% and a negative return on equity of 10.07%. The company’s revenue for the quarter was up 39.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) earnings per share.
KC stock traded down $0.40 during trading on Thursday, reaching $19.31. The stock had a trading volume of 1,979,667 shares, compared to its average volume of 1,521,916. Kingsoft Cloud has a 52 week low of $17.37 and a 52 week high of $74.67. The stock’s 50 day moving average is $26.17 and its two-hundred day moving average is $30.35. The firm has a market cap of $4.32 billion, a PE ratio of -35.11 and a beta of 1.41.
A number of hedge funds have recently bought and sold shares of KC. Morgan Stanley raised its stake in shares of Kingsoft Cloud by 269.2% in the second quarter. Morgan Stanley now owns 1,339,073 shares of the company’s stock worth $45,435,000 after buying an additional 976,378 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Kingsoft Cloud by 21.6% in the third quarter. Bank of New York Mellon Corp now owns 63,525 shares of the company’s stock worth $1,799,000 after buying an additional 11,293 shares during the period. Finally, Royal Bank of Canada bought a new position in shares of Kingsoft Cloud in the third quarter worth about $27,000. 29.16% of the stock is currently owned by institutional investors.
Kingsoft Cloud Company Profile
Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; enterprise cloud services to customers in financial service, public service, and healthcare business, and others.
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