Cresset Asset Management LLC Has $918,000 Position in Kingsoft Cloud Holdings Limited Sponsored ADR $KC

Key Points

• Cresset Asset Management LLC reduced its stake in Kingsoft Cloud Holdings by 33.2%, holding 63,906 shares worth $918,000 after selling 31,759 shares in the first quarter.
• Kingsoft Cloud's stock has a 52-week high of $22.26 and a low of $2.02, with a current price of $13.57 and a market capitalization of $3.79 billion.
• Wall Street analysts have varied ratings for Kingsoft Cloud, with one firm increasing its rating to "strong-buy" while another lowered it to "sell."

Cresset Asset Management LLC trimmed its stake in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) by 33.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,906 shares of the company's stock after selling 31,759 shares during the period. Cresset Asset Management LLC's holdings in Kingsoft Cloud were worth $918,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. D. E. Shaw & Co. Inc. acquired a new stake in shares of Kingsoft Cloud during the fourth quarter worth $21,076,000. Voloridge Investment Management LLC acquired a new stake in shares of Kingsoft Cloud during the fourth quarter worth $16,345,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Kingsoft Cloud by 50.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,217,394 shares of the company's stock worth $17,482,000 after acquiring an additional 410,492 shares during the period. Millennium Management LLC raised its holdings in shares of Kingsoft Cloud by 4,098.3% during the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company's stock worth $9,389,000 after acquiring an additional 873,686 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Kingsoft Cloud during the first quarter worth $10,573,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KC has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Kingsoft Cloud from a "sell" rating to a "hold" rating in a report on Sunday. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price for the company in a research report on Monday, May 5th. Zacks Research raised shares of Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Kingsoft Cloud presently has a consensus rating of "Buy" and a consensus target price of $15.40.

Kingsoft Cloud Stock Down 2.4%

Kingsoft Cloud stock traded down $0.34 during mid-day trading on Wednesday, reaching $14.12. The company's stock had a trading volume of 1,302,602 shares, compared to its average volume of 1,607,099. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -12.39 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 simple moving average is $13.59 and its 200 day simple moving average is $14.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96.

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.