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

Mirae Asset Global Investments Co. Ltd. grew 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 & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KC. State Street Corp grew its holdings in shares of Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after purchasing an additional 3,104 shares during the last quarter. Blue Trust Inc. boosted its position in Kingsoft Cloud by 30.9% during 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. SG Americas Securities LLC bought a new position in shares of Kingsoft Cloud during the third quarter valued at about $47,000. Yeomans Consulting Group Inc. purchased a new position in shares of Kingsoft Cloud in the fourth quarter worth about $318,000. Finally, Walleye Capital LLC purchased a new position in shares of Kingsoft Cloud in the third quarter worth about $119,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on KC. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kingsoft Cloud has an average rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Price Performance

Shares of KC stock opened at $17.35 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. Kingsoft Cloud Holdings Limited has a fifty-two week low of $2.02 and a fifty-two week high of $18.74. The firm has a market cap of $4.40 billion, a P/E ratio of -14.46 and a beta of 2.31. The business’s 50 day moving average price is $11.14 and its 200-day moving average price is $6.07.

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.