Kingsoft Cloud Holdings Ltd. (KC), a company providing cloud services to different organizations in China, closed Thursday’s regular trading session at $6.07 after sliding down 3.65% during the day. However, KC stock has bounced back in the premarket trading session, as it was trading at $6.72 after surging 10.71% at the last check. The announcement of the share repurchase program from the company prompted investor interest in the stock, as analysts’ ratings are pointing toward a positive situation for the stock in the long run.
Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .
Authorization of Share Repurchase Program
On Thursday, KC announced that its Board of Directors had authorized the adoption of the share repurchase program. Under the terms of the program, the company could repurchase up to $100 million of its American Depositary Shares for 12 months. The Board said that it would review the program periodically, and could authorize terms adjustment.
Q4 & FY 2021 Financial Results
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .
On the 24th of March, KC reported the financial results for Q4 and FY 2021. The total revenues reached $417.4 million during the quarter, which represented an increase of 38.3% compared to the same quarter of the previous year. The GAAP net loss for Q4 2021 was $75.7 million, while the non-GAAP net loss was $87.3 million. During FY 2021, the revenues reached $1.42 billion after increasing 37.8% compared to FY 2020. The GAAP net loss for 2021 was $249.8 million, while the non-GAAP net loss was calculated to be $215.6 million.
Comments from KC CEO
Mr. Yulin Wang, Chief Executive Officer of KC, commented that revenues from public cloud services were negatively impacted, the reason being the sector-wise demand slowdown from the internet space in China. The company has conducted a strategic review of its business to adapt to the market conditions. The strategic initiatives are expected to facilitate more sustained growth.
What’s in Store for KC?
Looking ahead, analysts are of the view that short-term signals are looking bleak for KC stock. However, in a longer period, the stock is expected to make strong headwinds. Therefore investors should take careful decisions regarding their investments.