Cetera Investment Advisers Acquires 78,498 Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC)

Key Points

• Cetera Investment Advisers increased its stake in Kingsoft Cloud Holdings by 596.3%, owning 91,662 shares worth approximately $1.3 million at the end of the first quarter.
• Kingsoft Cloud received a strong buy rating from Nomura Securities, along with other upgrades, resulting in an average target price of $11.33 and a consensus rating of "Moderate Buy."
• Shares of Kingsoft Cloud have a recent trading price of $13.55, having experienced a 4.4% decline in value.

Cetera Investment Advisers raised its holdings in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) by 596.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,662 shares of the company's stock after acquiring an additional 78,498 shares during the period. Cetera Investment Advisers' holdings in Kingsoft Cloud were worth $1,316,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in KC. Invesco Ltd. raised its holdings in Kingsoft Cloud by 8.4% during the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company's stock worth $659,000 after purchasing an additional 4,878 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Kingsoft Cloud by 69.8% during the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock worth $9,105,000 after purchasing an additional 356,834 shares in the last quarter. XTX Topco Ltd bought a new stake in Kingsoft Cloud during the fourth quarter worth approximately $540,000. Jump Financial LLC bought a new stake in Kingsoft Cloud during the fourth quarter worth approximately $6,179,000. Finally, Marshall Wace LLP bought a new position in shares of Kingsoft Cloud in the fourth quarter valued at $119,000. Institutional investors own 13.40% of the company's stock.

Kingsoft Cloud Price Performance

Kingsoft Cloud stock traded up $0.15 during trading hours on Friday, hitting $13.41. 279,932 shares of the stock were exchanged, compared to its average volume of 2,947,102. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $3.75 billion, a P/E ratio of -12.22 and a beta of 2.10. Kingsoft Cloud Holdings Limited Sponsored ADR has a 12 month low of $2.02 and a 12 month high of $22.26. The business's 50-day moving average is $13.34 and its two-hundred day moving average is $14.30.

Analyst Ratings Changes

Several equities analysts have weighed in on KC shares. Wall Street Zen upgraded shares of Kingsoft Cloud from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. Finally, Nomura upgraded shares of 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. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.