State Street Corp Has $1.79 Million Stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

State Street Corp grew its position in Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 609,790 shares of the company’s stock after purchasing an additional 3,104 shares during the quarter. State Street Corp owned approximately 0.24% of Kingsoft Cloud worth $1,793,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of KC. Blue Trust Inc. lifted its stake in Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares during the period. Profund Advisors LLC bought a new stake in shares of Kingsoft Cloud in the 2nd quarter valued at $27,000. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud during the 3rd quarter valued at $47,000. Renaissance Technologies LLC boosted its stake in Kingsoft Cloud by 4.0% during the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after acquiring an additional 17,700 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares in the last quarter. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KC has been the topic of several recent research reports. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Kingsoft Cloud has a consensus rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Trading Down 8.5 %

Shares of Kingsoft Cloud stock opened at $10.49 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $2.66 billion, a P/E ratio of -8.74 and a beta of 2.49. Kingsoft Cloud Holdings Limited has a 52-week low of $2.02 and a 52-week high of $12.84. The stock’s 50-day simple moving average is $6.57 and its 200 day simple moving average is $4.01.

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.