Cheetah Mobile (NYSE:CMCM) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Cheetah Mobile Inc. (NYSE:CMCM)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.69 and traded as low as $2.86. Cheetah Mobile shares last traded at $2.9350, with a volume of 175 shares changing hands.

Analysts Set New Price Targets

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

Cheetah Mobile Stock Up 1.9%

The firm has a market capitalization of $88.99 million, a price-to-earnings ratio of -2.51 and a beta of 1.82. The stock has a 50 day moving average of $3.69 and a 200 day moving average of $5.30.

Institutional Investors Weigh In On Cheetah Mobile

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP bought a new position in Cheetah Mobile during the fourth quarter worth $69,000. Nomura Holdings Inc. acquired a new stake in shares of Cheetah Mobile during the third quarter worth $94,000. Goldman Sachs Group Inc. raised its holdings in shares of Cheetah Mobile by 17.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 23,131 shares of the software maker’s stock worth $139,000 after purchasing an additional 3,443 shares during the period. Finally, Jane Street Group LLC lifted 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 worth $181,000 after buying an additional 26,978 shares during the last quarter. 0.41% of the stock is owned by institutional investors and hedge funds.

Cheetah Mobile Company Profile

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.