MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Kingsoft Cloud Holdings Limited Sponsored ADR $KC

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) by 0.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 332,906 shares of the company’s stock after buying an additional 1,710 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Kingsoft Cloud were worth $4,781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Compagnie Lombard Odier SCmA purchased a new position in shares of Kingsoft Cloud in the first quarter valued at $65,000. Bayforest Capital Ltd acquired a new stake in Kingsoft Cloud in the first quarter valued at $78,000. Atlas Capital Advisors Inc. acquired a new stake in Kingsoft Cloud in the first quarter valued at $104,000. Vise Technologies Inc. acquired a new stake in Kingsoft Cloud in the fourth quarter valued at $125,000. Finally, Personal CFO Solutions LLC acquired a new stake in Kingsoft Cloud in the first quarter valued at $176,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Kingsoft Cloud Stock Up 5.6%

Shares of NASDAQ:KC opened at $16.77 on Friday. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -14.71 and a beta of 2.18. Kingsoft Cloud Holdings Limited Sponsored ADR has a 1-year low of $2.16 and a 1-year high of $22.26. The company’s fifty day moving average is $14.14 and its two-hundred day moving average is $13.95. 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 Upgrades and Downgrades

Several analysts recently issued reports on KC shares. Wall Street Zen raised shares of Kingsoft Cloud from a “sell” rating to a “hold” rating in a report on Sunday, August 24th. Bank of America raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating in a report on Tuesday. Finally, Zacks Research raised shares of Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price 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.