Headlands Technologies LLC Reduces Stock Position in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC)

Key Points

• Headlands Technologies LLC has reduced its stock position in Kingsoft Cloud Holdings Limited by 53.8%, owning approximately 131,578 shares after selling 153,498 shares.
• Several hedge funds have recently bought or sold shares of Kingsoft Cloud, resulting in institutional investors holding 13.40% of the stock.
• Analysts have shown increased confidence in Kingsoft Cloud, with upgrades from Nomura, improving its rating from "neutral" to "buy" and setting a price target of $18.30.

Headlands Technologies LLC lowered its position in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) by 53.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,578 shares of the company's stock after selling 153,498 shares during the period. Headlands Technologies LLC's holdings in Kingsoft Cloud were worth $1,889,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KC. ABC Arbitrage SA purchased a new stake in shares of Kingsoft Cloud in the first quarter valued at about $1,294,000. Bayforest Capital Ltd acquired a new position in shares of Kingsoft Cloud during the 1st quarter worth approximately $78,000. GSA Capital Partners LLP lifted its stake in Kingsoft Cloud by 20.9% in the 1st quarter. GSA Capital Partners LLP now owns 105,843 shares of the company's stock valued at $1,520,000 after buying an additional 18,295 shares in the last quarter. Cetera Investment Advisers grew its holdings in Kingsoft Cloud by 596.3% during the 1st quarter. Cetera Investment Advisers now owns 91,662 shares of the company's stock valued at $1,316,000 after buying an additional 78,498 shares during the last quarter. Finally, Dorsey Wright & Associates purchased a new position in Kingsoft Cloud during the first quarter worth $2,044,000. 13.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KC has been the subject of a number of recent research reports. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective for the company in a research report on Monday, May 5th. Wall Street Zen upgraded shares of Kingsoft Cloud from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. 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. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.33.

Kingsoft Cloud Price Performance

KC opened at $14.18 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 company's 50 day simple moving average is $13.13 and its 200 day simple moving average is $14.18. The stock has a market capitalization of $3.96 billion, a PE ratio of -12.89 and a beta of 2.10. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.73 and a current ratio of 0.73.

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.

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