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 Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 51,591 shares of the company's stock, valued at approximately $741,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KC. Man Group plc bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at $711,000. Quantbot Technologies LP bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at $226,000. Invesco Ltd. raised its holdings in shares of Kingsoft Cloud by 8.4% during the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company's stock valued at $659,000 after purchasing an additional 4,878 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Kingsoft Cloud by 13.8% during the 4th quarter. Two Sigma Advisers LP now owns 27,200 shares of the company's stock valued at $285,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Kingsoft Cloud by 4,098.3% during the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock valued at $9,389,000 after purchasing an additional 873,686 shares in the last quarter. Hedge funds and other institutional investors own 13.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KC shares. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price on the stock in a research note on Monday, May 5th. Finally, Wall Street Zen lowered shares of Kingsoft Cloud from a "hold" rating to a "sell" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Kingsoft Cloud presently has an average rating of "Moderate Buy" and a consensus target price of $11.33.

Kingsoft Cloud Stock Performance

NASDAQ:KC opened at $11.56 on Friday. Kingsoft Cloud Holdings Limited Sponsored ADR has a 1 year low of $2.02 and a 1 year high of $22.26. The firm's fifty day simple moving average is $12.76 and its 200 day simple moving average is $13.65. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.23 billion, a PE ratio of -10.51 and a beta of 2.10.

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.

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