Swedbank AB Decreases Stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Swedbank AB lowered its position in Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 41.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,640 shares of the company’s stock after selling 93,500 shares during the quarter. Swedbank AB owned approximately 0.05% of Kingsoft Cloud worth $387,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in KC. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kingsoft Cloud in the third quarter worth approximately $326,000. GSA Capital Partners LLP raised its holdings in Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after purchasing an additional 81,751 shares in the last quarter. XY Capital Ltd acquired a new stake in Kingsoft Cloud during the third quarter worth approximately $214,000. Sei Investments Co. raised its holdings in Kingsoft Cloud by 33.6% during the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after purchasing an additional 35,175 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares in the last quarter. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Stock Performance

Shares of Kingsoft Cloud stock opened at $7.01 on Thursday. The firm’s fifty day simple moving average is $3.68 and its 200-day simple moving average is $2.99. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -5.84 and a beta of 2.00. Kingsoft Cloud Holdings Limited has a 12 month low of $2.02 and a 12 month high of $7.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Bank of America cut their price objective on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $4.62.

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.