Mirae Asset Global Investments Co. Ltd. Buys 2,200 Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 12.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,549 shares of the company’s stock after purchasing an additional 2,200 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Kingsoft Cloud were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jane Street Group LLC raised its position in shares of Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after purchasing an additional 255,795 shares during the period. Yeomans Consulting Group Inc. purchased a new position in Kingsoft Cloud in the 4th quarter valued at approximately $318,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Kingsoft Cloud during the 3rd quarter valued at $326,000. State Street Corp lifted its position in shares of Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after acquiring an additional 3,104 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after acquiring an additional 4,458 shares during the period. 13.40% of the stock is owned by institutional investors.

Kingsoft Cloud Stock Performance

Shares of KC opened at $17.35 on Friday. Kingsoft Cloud Holdings Limited has a 12-month low of $2.02 and a 12-month high of $18.74. 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 company has a market cap of $4.40 billion, a PE ratio of -14.46 and a beta of 2.31. The stock has a 50-day moving average price of $11.14 and a 200-day moving average price of $6.07.

Analyst Ratings Changes

A number of research firms recently issued reports on KC. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $5.93.

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.