Beverly Hills Private Wealth LLC Takes $126,000 Position in Kingsoft Cloud Holdings Limited Sponsored ADR $KC

Beverly Hills Private Wealth LLC purchased a new stake in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 10,057 shares of the company’s stock, valued at approximately $126,000.

Other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in shares of Kingsoft Cloud in the 1st quarter worth approximately $176,000. Farther Finance Advisors LLC acquired a new stake in shares of Kingsoft Cloud in the 2nd quarter worth approximately $100,000. Cetera Investment Advisers lifted its stake in shares of Kingsoft Cloud by 596.3% in the 1st quarter. Cetera Investment Advisers now owns 91,662 shares of the company’s stock worth $1,316,000 after acquiring an additional 78,498 shares during the period. Dorsey Wright & Associates acquired a new stake in shares of Kingsoft Cloud in the 1st quarter worth approximately $2,044,000. Finally, Diversify Wealth Management LLC acquired a new stake in shares of Kingsoft Cloud in the 1st quarter worth approximately $741,000. 13.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KC. Zacks Research raised shares of Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 21st. Bank of America raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft began coverage on shares of Kingsoft Cloud in a research note on Tuesday, September 16th. They issued a “buy” rating and a $21.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kingsoft Cloud in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Kingsoft Cloud from a “sell” rating to a “hold” rating in a research note on Sunday, August 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.27.

Kingsoft Cloud Stock Down 0.5%

KC stock opened at $12.85 on Wednesday. Kingsoft Cloud Holdings Limited Sponsored ADR has a 12 month low of $2.57 and a 12 month high of $22.26. The firm has a market cap of $3.88 billion, a PE ratio of -11.27 and a beta of 2.14. The firm has a 50 day simple moving average of $14.71 and a 200 day simple moving average of $13.67. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96.

About Kingsoft Cloud

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.