Dorsey Wright & Associates Takes $2.04 Million Position in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC)

Dorsey Wright & Associates acquired a new stake in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 142,345 shares of the company's stock, valued at approximately $2,044,000. Dorsey Wright & Associates owned 0.05% of Kingsoft Cloud at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. acquired a new stake in shares of Kingsoft Cloud during the fourth quarter valued at about $21,076,000. Voloridge Investment Management LLC acquired a new position in shares of Kingsoft Cloud during the fourth quarter worth $16,345,000. Millennium Management LLC increased its holdings in shares of Kingsoft Cloud by 4,098.3% in the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock valued at $9,389,000 after acquiring an additional 873,686 shares during the last quarter. Renaissance Technologies LLC increased its stake in Kingsoft Cloud by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock valued at $9,105,000 after purchasing an additional 356,834 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Kingsoft Cloud during the fourth quarter worth approximately $6,378,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Kingsoft Cloud Stock Performance

Shares of KC traded down $0.25 during mid-day trading on Thursday, reaching $15.70. 2,238,389 shares of the company's stock were exchanged, compared to its average volume of 2,247,480. The business's fifty day simple moving average is $12.90 and its 200-day simple moving average is $13.88. The stock has a market capitalization of $4.39 billion, a PE ratio of -14.27 and a beta of 2.10. Kingsoft Cloud Holdings Limited Sponsored ADR has a 52-week low of $2.02 and a 52-week high of $22.26. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.73.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KC shares. Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price for the company in a report on Monday, May 5th. Wall Street Zen cut shares of Kingsoft Cloud from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Kingsoft Cloud presently has an average rating of "Moderate Buy" and a consensus price target of $11.33.

About Kingsoft Cloud

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.