Bayforest Capital Ltd Increases Holdings in Kingsoft Cloud Holdings Limited Sponsored ADR $KC

Bayforest Capital Ltd grew its holdings in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) by 417.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,020 shares of the company’s stock after buying an additional 22,606 shares during the period. Bayforest Capital Ltd’s holdings in Kingsoft Cloud were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of KC. Envestnet Asset Management Inc. purchased a new stake in Kingsoft Cloud during the 1st quarter worth about $1,094,000. Personal CFO Solutions LLC purchased a new stake in Kingsoft Cloud during the 1st quarter worth about $176,000. Diversify Wealth Management LLC purchased a new stake in Kingsoft Cloud during the 1st quarter worth about $741,000. Diversify Advisory Services LLC purchased a new stake in shares of Kingsoft Cloud in the 1st quarter valued at about $220,000. Finally, Dorsey Wright & Associates purchased a new stake in shares of Kingsoft Cloud in the 1st quarter valued at about $2,044,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

Kingsoft Cloud Stock Up 2.6%

KC opened at $13.23 on Thursday. The business has a 50 day moving average price of $14.78 and a two-hundred day moving average price of $13.71. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The company has a market cap of $4.00 billion, a PE ratio of -11.61 and a beta of 2.14. Kingsoft Cloud Holdings Limited Sponsored ADR has a 52 week low of $2.57 and a 52 week high of $22.26.

Analysts Set New Price Targets

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

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.