Cheetah Mobile (NYSE:CMCM) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Cheetah Mobile Inc. (NYSE:CMCM)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $4.48 and traded as low as $3.03. Cheetah Mobile shares last traded at $3.3050, with a volume of 7,562 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Cheetah Mobile in a report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cheetah Mobile presently has an average rating of “Sell”.

Cheetah Mobile Trading Up 0.2%

The company has a market cap of $95.36 million, a P/E ratio of -2.69 and a beta of 1.82. The company’s fifty day moving average is $4.43 and its 200 day moving average is $5.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC lifted its stake 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 last quarter. Dimensional Fund Advisors LP bought a new position in Cheetah Mobile during the 4th quarter worth approximately $69,000. Goldman Sachs Group Inc. increased its stake in Cheetah Mobile by 17.5% in the 4th 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, Nomura Holdings Inc. purchased a new position in Cheetah Mobile in the 3rd quarter worth approximately $94,000. 0.41% of the stock is owned by institutional investors.

About Cheetah Mobile

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.