12,351 Shares in Kingsoft Cloud Holdings Limited Sponsored ADR $KC Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new position in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,351 shares of the company’s stock, valued at approximately $176,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. acquired a new position in shares of Kingsoft Cloud in the 4th quarter valued at approximately $21,076,000. Voloridge Investment Management LLC acquired a new position in shares of Kingsoft Cloud in the 4th quarter valued at approximately $16,345,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Kingsoft Cloud by 50.9% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,217,394 shares of the company’s stock valued at $17,482,000 after purchasing an additional 410,492 shares in the last quarter. Millennium Management LLC raised its position in shares of Kingsoft Cloud by 4,098.3% in the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company’s stock valued at $9,389,000 after purchasing an additional 873,686 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Kingsoft Cloud in the 1st quarter valued at approximately $10,573,000. 13.40% of the stock is owned by institutional investors and hedge funds.

Kingsoft Cloud Trading Up 3.0%

NASDAQ:KC opened at $13.82 on Friday. Kingsoft Cloud Holdings Limited Sponsored ADR has a 1 year low of $2.02 and a 1 year high of $22.26. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -12.12 and a beta of 2.18. The business has a fifty day moving average of $13.86 and a 200-day moving average of $14.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96.

Analyst Ratings Changes

A number of equities analysts have issued reports on KC shares. Zacks Research raised Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 21st. Wall Street Zen upgraded Kingsoft Cloud from a “sell” rating to a “hold” rating in a research note on Sunday, August 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $15.40.

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.