Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has increased its holdings in Kingsoft Cloud by 50.9%, owning 1,217,394 shares worth approximately $17.5 million as of the last reporting period.
• Several research firms have upgraded Kingsoft Cloud's stock ratings, with Nomura setting a new price target of $18.30, reflecting growing analyst confidence in the company.
• Kingsoft Cloud has a market capitalization of $3.79 billion and is currently trading at $13.55, significantly below its 1-year high of $22.26.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) by 50.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,217,394 shares of the company's stock after purchasing an additional 410,492 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.45% of Kingsoft Cloud worth $17,482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KC. Two Sigma Advisers LP grew its position 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 acquiring an additional 3,300 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of Kingsoft Cloud during the 1st quarter valued at about $65,000. Invesco Ltd. grew its position 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 acquiring an additional 4,878 shares during the period. Bayforest Capital Ltd acquired a new stake in Kingsoft Cloud in the 1st quarter worth about $78,000. Finally, Marshall Wace LLP acquired a new stake in Kingsoft Cloud in the 4th quarter worth about $119,000. Hedge funds and other institutional investors own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Kingsoft Cloud Stock Up 1.6%

Shares of Kingsoft Cloud stock traded up $0.21 during trading hours on Friday, reaching $13.47. 462,154 shares of the company were exchanged, compared to its average volume of 2,948,291. The firm has a market cap of $3.77 billion, a PE ratio of -12.24 and a beta of 2.10. The stock's fifty day moving average is $13.34 and its 200 day moving average is $14.30. 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 Holdings Limited Sponsored ADR has a 1 year low of $2.02 and a 1 year high of $22.26.

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.