Short Interest in Cheetah Mobile Inc. (NYSE:CMCM) Decreases By 46.2%

Cheetah Mobile Inc. (NYSE:CMCM) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 13,432 shares, a decline of 46.2% from the June 15th total of 24,947 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 38,150 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Cheetah Mobile

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its holdings in shares of Cheetah Mobile by 852.7% in the fourth quarter. Jane Street Group LLC now owns 30,142 shares of the software maker’s stock valued at $181,000 after purchasing an additional 26,978 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Cheetah Mobile in the third quarter worth $94,000. Dimensional Fund Advisors LP purchased a new position in shares of Cheetah Mobile during the fourth quarter valued at $69,000. Finally, Goldman Sachs Group Inc. grew 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 valued at $139,000 after buying an additional 3,443 shares in the last quarter. 0.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Cheetah Mobile Stock Down 0.8%

Shares of CMCM stock traded down $0.03 during trading hours on Friday, reaching $3.10. 2,660 shares of the stock traded hands, compared to its average volume of 22,177. Cheetah Mobile has a 1-year low of $2.65 and a 1-year high of $9.44. The business has a fifty day moving average price of $3.96 and a 200 day moving average price of $5.43. The firm has a market capitalization of $94.14 million, a PE ratio of -2.65 and a beta of 1.82.

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.