ABC Arbitrage SA Acquires Shares of 90,125 Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC)

Key Points

• ABC Arbitrage SA has made a new investment in Kingsoft Cloud Holdings, acquiring 90,125 shares valued at approximately $1.29 million.
• Numerous institutional investors, including Man Group plc and Millennium Management LLC, have recently increased their stakes in Kingsoft Cloud, indicating growing interest among hedge funds.
• Analysts upgraded Kingsoft Cloud’s rating, with Nomura raising it to a strong buy and setting a new target price of $18.30, while the consensus rating is now classified as a Moderate Buy.

ABC Arbitrage SA acquired a new position in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 90,125 shares of the company's stock, valued at approximately $1,294,000.

Several other hedge funds have also modified their holdings of KC. Compagnie Lombard Odier SCmA purchased a new stake in Kingsoft Cloud during the 1st quarter valued at $65,000. Bayforest Capital Ltd purchased a new stake in Kingsoft Cloud during the 1st quarter valued at $78,000. Marshall Wace LLP purchased a new stake in Kingsoft Cloud during the 4th quarter valued at $119,000. Vise Technologies Inc. purchased a new stake in Kingsoft Cloud during the 4th quarter valued at $125,000. Finally, Personal CFO Solutions LLC purchased a new stake in Kingsoft Cloud during the 1st quarter valued at $176,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KC has been the topic of several research analyst reports. Wall Street Zen raised Kingsoft Cloud from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective on the stock in a research report on Monday, May 5th. Finally, Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Kingsoft Cloud has a consensus rating of "Moderate Buy" and a consensus target price of $11.33.

Kingsoft Cloud Stock Performance

Shares of NASDAQ:KC traded down $0.63 during trading on Friday, hitting $13.55. The stock had a trading volume of 1,130,153 shares, compared to its average volume of 2,274,184. Kingsoft Cloud Holdings Limited Sponsored ADR has a 12-month low of $2.02 and a 12-month high of $22.26. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of -12.32 and a beta of 2.10. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The stock has a 50-day simple moving average of $13.18 and a two-hundred day simple moving average of $14.21.

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.