SG Americas Securities LLC cut its holdings in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC – Get Rating) by 73.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,866 shares of the company’s stock after selling 82,454 shares during the quarter. SG Americas Securities LLC’s holdings in Kingsoft Cloud were worth $114,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Kingsoft Cloud by 220.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,941 shares of the company’s stock worth $30,000 after purchasing an additional 3,400 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Kingsoft Cloud in the 4th quarter worth $38,000. Tower Research Capital LLC TRC grew its holdings in shares of Kingsoft Cloud by 310.2% during the third quarter. Tower Research Capital LLC TRC now owns 22,112 shares of the company’s stock valued at $44,000 after buying an additional 16,721 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Kingsoft Cloud during the fourth quarter valued at $48,000. Finally, BNP Paribas Arbitrage SNC purchased a new position in Kingsoft Cloud in the third quarter valued at about $61,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.
Kingsoft Cloud Trading Down 5.6 %
Shares of KC stock opened at $5.02 on Wednesday. Kingsoft Cloud Holdings Limited has a 12-month low of $1.77 and a 12-month high of $10.13. The firm’s 50 day moving average is $6.22 and its 200 day moving average is $4.71. The stock has a market capitalization of $1.27 billion, a P/E ratio of -3.20 and a beta of 2.21.
Analyst Ratings Changes
KC has been the topic of several research reports. The Goldman Sachs Group lowered Kingsoft Cloud from a “neutral” rating to a “sell” rating and boosted their price target for the company from $4.00 to $5.10 in a research note on Sunday, April 23rd. JPMorgan Chase & Co. began coverage on Kingsoft Cloud in a research report on Monday, March 13th. They issued a “neutral” rating on the stock.
Kingsoft Cloud Profile
Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; and enterprise cloud services to customers in financial service, public service, and healthcare businesses.
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