Invesco Ltd. Sells 26,642 Shares of Kingsoft Cloud Holdings Limited Sponsored ADR $KC

Key Points

• Invesco Ltd. reduced its holdings in Kingsoft Cloud Holdings by 42.4%, selling 26,642 shares to retain 36,213 shares, valued at approximately $520,000.
• Multiple institutional investors have changed their positions in Kingsoft Cloud, with Connor Clark & Lunn increasing its stake by 50.9%, now owning over 1.2 million shares worth $17.48 million.
• Kingsoft Cloud received a series of upgrades from research firms, with an average stock rating of "Buy" and a target price set at $15.40.

Invesco Ltd. trimmed its holdings in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) by 42.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,213 shares of the company's stock after selling 26,642 shares during the quarter. Invesco Ltd.'s holdings in Kingsoft Cloud were worth $520,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Atlas Capital Advisors Inc. purchased a new stake in shares of Kingsoft Cloud during the 1st quarter worth approximately $104,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Kingsoft Cloud by 50.9% during the 1st 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 in the last quarter. Townsquare Capital LLC purchased a new stake in shares of Kingsoft Cloud during the 1st quarter worth approximately $551,000. XY Capital Ltd raised its holdings in shares of Kingsoft Cloud by 303.1% during the 1st quarter. XY Capital Ltd now owns 348,912 shares of the company's stock worth $5,010,000 after acquiring an additional 262,345 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new stake in shares of Kingsoft Cloud during the 1st quarter worth approximately $1,294,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on KC shares. Wall Street Zen raised Kingsoft Cloud from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Zacks Research raised Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a report on Thursday, August 21st. Finally, Bank of America raised Kingsoft Cloud from a "neutral" rating to a "buy" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $15.40.

Kingsoft Cloud Trading Up 5.6%

NASDAQ:KC traded up $0.89 during midday trading on Thursday, hitting $16.77. 3,103,430 shares of the company traded hands, compared to its average volume of 2,115,661. The firm's fifty day moving average is $14.14 and its 200-day moving average is $13.95. Kingsoft Cloud Holdings Limited Sponsored ADR has a 12-month low of $2.16 and a 12-month high of $22.26. The firm has a market capitalization of $4.69 billion, a P/E ratio of -14.71 and a beta of 2.18. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34.

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.