Diversify Wealth Management LLC Makes New Investment in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC)

Diversify Wealth Management LLC bought a new position in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 51,591 shares of the company's stock, valued at approximately $741,000.

Other hedge funds have also recently modified their holdings of the company. D. E. Shaw & Co. Inc. bought a new stake in shares of Kingsoft Cloud in the 4th quarter worth approximately $21,076,000. Voloridge Investment Management LLC purchased a new position in shares of Kingsoft Cloud during the 4th quarter valued at $16,345,000. Millennium Management LLC grew its position in Kingsoft Cloud by 4,098.3% in 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 in the last quarter. Renaissance Technologies LLC grew its position in Kingsoft Cloud by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock worth $9,105,000 after acquiring an additional 356,834 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Kingsoft Cloud by 628.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock worth $8,464,000 after acquiring an additional 696,094 shares in the last quarter. Institutional investors own 13.40% of the company's stock.

Analysts Set New Price Targets

KC has been the subject of several research reports. Wall Street Zen lowered shares of Kingsoft Cloud from a "hold" rating to a "sell" rating in a research report on Saturday. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price target for the company in a research note on Monday, May 5th. Finally, Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.33.

Kingsoft Cloud Trading Down 5.3%

Kingsoft Cloud stock traded down $0.80 during mid-day trading on Wednesday, hitting $14.29. The company's stock had a trading volume of 3,001,017 shares, compared to its average volume of 2,928,478. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -12.99 and a beta of 2.10. The business has a 50 day moving average price of $12.70 and a 200-day moving average price of $13.68. Kingsoft Cloud Holdings Limited Sponsored ADR has a 12 month low of $2.02 and a 12 month high of $22.26.

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.