Headlands Technologies LLC Sells 153,498 Shares of 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 holdings in shares of 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 Form 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 quarter. Headlands Technologies LLC's holdings in Kingsoft Cloud were worth $1,889,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. ABC Arbitrage SA bought a new position in shares of Kingsoft Cloud during the first quarter worth about $1,294,000. Bayforest Capital Ltd bought a new position in shares of Kingsoft Cloud during the 1st quarter worth approximately $78,000. GSA Capital Partners LLP grew its stake in shares of Kingsoft Cloud by 20.9% during the 1st quarter. GSA Capital Partners LLP now owns 105,843 shares of the company's stock worth $1,520,000 after acquiring an additional 18,295 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Kingsoft Cloud by 596.3% in the first quarter. Cetera Investment Advisers now owns 91,662 shares of the company's stock valued at $1,316,000 after purchasing an additional 78,498 shares during the last quarter. Finally, Dorsey Wright & Associates bought a new stake in shares of Kingsoft Cloud in the first quarter worth $2,044,000. Institutional investors own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KC. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. Wall Street Zen raised Kingsoft Cloud from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price target on the stock in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.33.

Kingsoft Cloud Stock Performance

Kingsoft Cloud stock traded down $0.03 during mid-day trading on Tuesday, hitting $13.38. 865,575 shares of the company's stock traded hands, compared to its average volume of 2,981,775. Kingsoft Cloud Holdings Limited Sponsored ADR has a fifty-two week low of $2.02 and a fifty-two week high of $22.26. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -12.16 and a beta of 2.10. The firm has a 50 day simple moving average of $13.23 and a two-hundred day simple moving average of $14.29. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick 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.