Cheetah Mobile Inc. (NYSE:CMCM) Short Interest Down 46.2% in June

Key Points

• Short interest in Cheetah Mobile fell sharply in June, dropping 46.2% to 13,432 shares as of June 30. That equals about 0.1% of shares outstanding and a very low 0.4-day days-to-cover ratio.
• Analyst sentiment remains weak, with Weiss Ratings reiterating a “sell (d-)” rating and MarketBeat showing a consensus rating of “Sell.”
• The stock was trading near its lows at $3.04, well below its 50-day moving average of $4.05 and 200-day moving average of $5.48, while the company’s market cap was about $92.3 million.

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

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Cheetah Mobile in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of "Sell".

Cheetah Mobile Stock Down 0.8%

Cheetah Mobile stock opened at $3.04 on Wednesday. The firm has a market cap of $92.32 million, a price-to-earnings ratio of -2.60 and a beta of 1.82. Cheetah Mobile has a 52 week low of $2.65 and a 52 week high of $9.44. The business's 50-day moving average price is $4.05 and its 200 day moving average price is $5.48.

Hedge Funds Weigh In On Cheetah Mobile

Several institutional investors have recently made changes to their positions in CMCM. Dimensional Fund Advisors LP purchased a new stake in Cheetah Mobile during the fourth quarter worth $69,000. Nomura Holdings Inc. acquired a new position in Cheetah Mobile in the 3rd quarter valued at $94,000. Goldman Sachs Group Inc. lifted its holdings 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 valued at $139,000 after purchasing an additional 3,443 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Cheetah Mobile by 852.7% during the 4th quarter. Jane Street Group LLC now owns 30,142 shares of the software maker's stock worth $181,000 after purchasing an additional 26,978 shares during the last quarter. 0.41% of the stock is owned by hedge funds and other 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.

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