Kingsoft Cloud Holdings Limited Sponsored ADR $KC Shares Sold by Dorsey Wright & Associates

Dorsey Wright & Associates lessened its stake in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) by 38.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 87,347 shares of the company’s stock after selling 54,998 shares during the quarter. Dorsey Wright & Associates’ holdings in Kingsoft Cloud were worth $1,094,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KC. First Horizon Advisors Inc. purchased a new stake in Kingsoft Cloud in the 2nd quarter valued at $27,000. Bayforest Capital Ltd acquired a new position in shares of Kingsoft Cloud during the 1st quarter valued at about $78,000. Farther Finance Advisors LLC acquired a new position in shares of Kingsoft Cloud during the 2nd quarter valued at about $100,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Kingsoft Cloud in the first quarter valued at about $104,000. Finally, Beverly Hills Private Wealth LLC acquired a new stake in Kingsoft Cloud during the second quarter worth about $126,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Analyst Ratings Changes

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

Kingsoft Cloud Stock Up 2.0%

NASDAQ:KC opened at $12.45 on Wednesday. Kingsoft Cloud Holdings Limited Sponsored ADR has a 52 week low of $4.30 and a 52 week high of $22.26. The stock’s fifty day moving average is $13.93 and its two-hundred day moving average is $13.64. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of -10.92 and a beta of 2.14. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34.

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.