Cheetah Mobile (NYSE:CMCM) Sees Unusually-High Trading Volume

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Cheetah Mobile Inc (NYSE:CMCM) shares saw an uptick in trading volume on Tuesday . 6,909,656 shares changed hands during mid-day trading, an increase of 1,282% from the previous session’s volume of 500,012 shares.The stock last traded at $4.51 and had previously closed at $3.30.

A number of research firms have issued reports on CMCM. Jefferies Financial Group began coverage on Cheetah Mobile in a research note on Monday, August 5th. They issued an “underperform” rating and a $2.90 target price for the company. Macquarie set a $3.00 price target on Cheetah Mobile and gave the company a “sell” rating in a report on Monday, June 17th. ValuEngine upgraded Cheetah Mobile from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Nomura cut their price target on Cheetah Mobile from $7.00 to $3.60 and set a “neutral” rating on the stock in a report on Monday, June 17th.

The company has a market capitalization of $473.00 million, a P/E ratio of 3.35 and a beta of 2.14. The business has a fifty day moving average price of $3.39 and a 200 day moving average price of $5.26.

Cheetah Mobile (NYSE:CMCM) last issued its quarterly earnings results on Tuesday, August 20th. The software maker reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.79). The firm had revenue of $141.32 million during the quarter. Cheetah Mobile had a net margin of 23.01% and a return on equity of 21.43%. Research analysts anticipate that Cheetah Mobile Inc will post 0.07 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Deutsche Bank AG bought a new stake in Cheetah Mobile during the fourth quarter worth about $28,000. Quantamental Technologies LLC bought a new stake in Cheetah Mobile during the first quarter worth about $31,000. Coatue Management LLC bought a new stake in Cheetah Mobile during the second quarter worth about $47,000. Tower Research Capital LLC TRC raised its holdings in Cheetah Mobile by 97.1% during the second quarter. Tower Research Capital LLC TRC now owns 16,333 shares of the software maker’s stock worth $58,000 after acquiring an additional 8,047 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in Cheetah Mobile during the first quarter worth about $74,000. Institutional investors own 4.65% of the company’s stock.

About Cheetah Mobile (NYSE:CMCM)

Cheetah Mobile Inc operates as a mobile Internet company worldwide. The company's utility products include Clean Master, a junk file cleaning, memory boosting, and privacy protection tool for mobile devices; Security Master, an anti-virus and security application for mobile devices; Battery Doctor, a power optimization tool for mobile devices; Cheetah Browser, a Web browser for PCs and mobile devices; CM Browser, a mobile browser to protect users from malicious threats; and CM Launcher, which provides personalized experience in using smart phones.

Read More: How are Outstanding Shares Different from Authorized Shares?

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