Kingsoft Cloud Holdings Limited (NASDAQ:KC) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its position in Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 628.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 806,902 shares of the company’s stock after acquiring an additional 696,094 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Kingsoft Cloud were worth $8,464,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KC. Walleye Capital LLC acquired a new stake in shares of Kingsoft Cloud in the third quarter valued at $119,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after purchasing an additional 2,200 shares during the period. Yeomans Consulting Group Inc. purchased a new position in shares of Kingsoft Cloud in the 4th quarter valued at about $318,000. GSA Capital Partners LLP grew 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 buying an additional 81,751 shares in the last quarter. Finally, XY Capital Ltd increased its stake in shares of Kingsoft Cloud by 19.1% during the fourth quarter. XY Capital Ltd now owns 86,567 shares of the company’s stock worth $908,000 after buying an additional 13,909 shares during the period. Institutional investors and hedge funds own 13.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KC shares. Nomura downgraded shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Nomura Securities downgraded shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.93.

Kingsoft Cloud Trading Up 3.4 %

NASDAQ KC opened at $17.31 on Friday. The firm’s fifty day moving average price is $14.81 and its 200 day moving average price is $8.46. Kingsoft Cloud Holdings Limited has a 12 month low of $2.02 and a 12 month high of $22.26. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of -14.43 and a beta of 2.23.

Kingsoft Cloud 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.