Jane Street Group LLC Acquires 255,795 Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Jane Street Group LLC grew its position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) by 383.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 322,503 shares of the company's stock after purchasing an additional 255,795 shares during the period. Jane Street Group LLC owned about 0.13% of Kingsoft Cloud worth $948,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Profund Advisors LLC purchased a new stake in shares of Kingsoft Cloud in the 2nd quarter valued at $27,000. SG Americas Securities LLC bought a new stake in Kingsoft Cloud in the third quarter worth $47,000. Blue Trust Inc. boosted its position in Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock valued at $56,000 after buying an additional 4,458 shares during the period. Headlands Technologies LLC grew its stake in shares of Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock valued at $83,000 after buying an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Kingsoft Cloud in the third quarter worth about $119,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KC. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their target price for the stock from $4.20 to $12.50 in a report on Friday, December 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $5.93.

Kingsoft Cloud Stock Down 8.5 %

Shares of KC traded down $0.97 during mid-day trading on Wednesday, reaching $10.49. The company had a trading volume of 3,318,017 shares, compared to its average volume of 1,850,364. Kingsoft Cloud Holdings Limited has a 52 week low of $2.02 and a 52 week high of $12.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -8.74 and a beta of 2.49. The firm has a 50-day moving average price of $6.57 and a 200 day moving average price of $4.01.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.