XY Capital Ltd Acquires 262,345 Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC)

Key Points

• XY Capital Ltd significantly increased its stake in Kingsoft Cloud Holdings Limited by 303.1% in Q1, acquiring an additional 262,345 shares to own a total of 348,912 shares, representing 1.4% of its portfolio.
• Kingsoft Cloud received multiple upgrades from analysts, with Nomura Securities raising their rating from "hold" to a "strong-buy", and setting a price target of $18.30.
• The stock currently has a market capitalization of $3.96 billion with a notable fifty-two week price range between $2.02 and $22.26.

XY Capital Ltd increased its holdings in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) by 303.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 348,912 shares of the company's stock after buying an additional 262,345 shares during the quarter. Kingsoft Cloud comprises approximately 1.4% of XY Capital Ltd's portfolio, making the stock its 11th biggest position. XY Capital Ltd owned about 0.13% of Kingsoft Cloud worth $5,010,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of KC. Two Sigma Advisers LP lifted 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 buying an additional 3,300 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Kingsoft Cloud in the first quarter valued at about $65,000. Invesco Ltd. boosted its position in Kingsoft Cloud by 8.4% in the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company's stock worth $659,000 after purchasing an additional 4,878 shares during the last quarter. Bayforest Capital Ltd purchased a new position in Kingsoft Cloud in the first quarter worth about $78,000. Finally, Marshall Wace LLP bought a new stake in shares of Kingsoft Cloud during the 4th quarter valued at about $119,000. Hedge funds and other institutional investors own 13.40% of the company's stock.

Wall Street Analyst Weigh In

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

Kingsoft Cloud Stock Performance

NASDAQ:KC opened at $14.18 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.73 and a current ratio of 0.73. The stock's fifty day moving average is $13.13 and its 200 day moving average is $14.18. The firm has a market capitalization of $3.96 billion, a PE ratio of -12.89 and a beta of 2.10. Kingsoft Cloud Holdings Limited Sponsored ADR has a fifty-two week low of $2.02 and a fifty-two week high of $22.26.

About Kingsoft Cloud

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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