249,100 Shares in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Bought by WT Asset Management Ltd

WT Asset Management Ltd bought a new stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 249,100 shares of the company's stock, valued at approximately $2,613,000. Kingsoft Cloud comprises approximately 0.3% of WT Asset Management Ltd's portfolio, making the stock its 28th largest position. WT Asset Management Ltd owned about 0.10% of Kingsoft Cloud as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of KC. Jane Street Group LLC boosted its stake in shares of Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock valued at $948,000 after purchasing an additional 255,795 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Kingsoft Cloud during the 3rd quarter valued at $326,000. GSA Capital Partners LLP grew its holdings in Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock worth $507,000 after acquiring an additional 81,751 shares during the last quarter. XY Capital Ltd purchased a new position in shares of Kingsoft Cloud in the third quarter valued at about $214,000. Finally, Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud during the third quarter worth about $119,000. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Stock Down 2.6 %

Kingsoft Cloud stock traded down $0.46 on Friday, hitting $16.94. 3,506,236 shares of the stock traded hands, compared to its average volume of 3,374,387. The business's fifty day simple moving average is $10.53 and its 200 day simple moving average is $5.73. The firm has a market cap of $4.30 billion, a P/E ratio of -14.12 and a beta of 2.31. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. Kingsoft Cloud Holdings Limited has a 1 year low of $2.02 and a 1 year high of $17.57.

Analyst Ratings Changes

A number of brokerages recently issued reports on KC. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their price target for the company from $2.30 to $6.70 in a report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their target price for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. One research 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $5.93.

Kingsoft Cloud 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.