Cheetah Mobile (NYSE:CMCM) Shares Pass Below 50-Day Moving Average – Here’s Why

Cheetah Mobile Inc. (NYSE:CMCMGet Free Report) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.27 and traded as low as $2.88. Cheetah Mobile shares last traded at $3.0840, with a volume of 5,330 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cheetah Mobile in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Check Out Our Latest Stock Analysis on CMCM

Cheetah Mobile Price Performance

The stock has a market cap of $90.81 million, a price-to-earnings ratio of -2.56 and a beta of 1.84. The company’s fifty day moving average price is $3.22 and its 200-day moving average price is $4.92.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP purchased a new position in shares of Cheetah Mobile in the fourth quarter worth $69,000. Nomura Holdings Inc. purchased a new stake in shares of Cheetah Mobile during the third quarter valued at $94,000. Goldman Sachs Group Inc. increased its position in shares of Cheetah Mobile by 17.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 23,131 shares of the software maker’s stock valued at $139,000 after acquiring an additional 3,443 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Cheetah Mobile by 852.7% in the 4th quarter. Jane Street Group LLC now owns 30,142 shares of the software maker’s stock valued at $181,000 after acquiring an additional 26,978 shares during the period. Institutional investors and hedge funds own 0.41% of the company’s stock.

About Cheetah Mobile

(Get Free Report)

Cheetah Mobile Inc operates as a mobile internet company primarily focused on developing and distributing utility and entertainment applications for smartphones and tablets. Its portfolio includes well-known security and optimization products such as Clean Master, Security Master and Battery Doctor, alongside consumer-oriented offerings in mobile gaming and content discovery. The company’s software solutions are designed to enhance device performance, improve privacy protection and deliver engaging digital experiences for end users.

Founded as the mobile internet division of Kingsoft in 2010, Cheetah Mobile spun off as an independent, publicly traded company in late 2014.

Further Reading

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