WT Asset Management Ltd Takes Position in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

WT Asset Management Ltd purchased a new position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 249,100 shares of the company’s stock, valued at approximately $2,613,000. Kingsoft Cloud accounts for 0.3% of WT Asset Management Ltd’s investment portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after buying an additional 3,104 shares during the period. Jane Street Group LLC increased its stake in Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after purchasing an additional 255,795 shares during the period. GSA Capital Partners LLP lifted its position in shares of Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after purchasing an additional 81,751 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Kingsoft Cloud in the third quarter valued at approximately $326,000. Finally, XY Capital Ltd acquired a new position in shares of Kingsoft Cloud in the third quarter valued at approximately $214,000. 13.40% of the stock is owned by institutional investors and hedge funds.

Kingsoft Cloud Stock Up 0.3 %

KC stock opened at $15.19 on Wednesday. The company’s 50 day moving average is $9.94 and its two-hundred day moving average is $5.47. Kingsoft Cloud Holdings Limited has a twelve month low of $2.02 and a twelve month high of $16.34. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.85 billion, a P/E ratio of -12.66 and a beta of 2.30.

Analyst Ratings Changes

A number of equities research analysts have issued reports on KC shares. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $5.93.

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.