Cheetah Mobile’s Quiet Period Set To Expire on June 17th (NASDAQ:CMCM)
Cheetah Mobile’s (NASDAQ:CMCM) quiet period is set to expire on Tuesday, June 17th. Cheetah Mobile had issued 12,000,000 shares in its initial public offering on May 8th, Stock Ratings News reports. The total size of the offering was $168,000,000 based on an initial share price of $14.00. During Cheetah Mobile’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of Cheetah Mobile in a research note on Friday, June 6th. They set an “overweight” rating and a $26.00 price target on the stock.
Shares of Cheetah Mobile (NASDAQ:CMCM) traded up 5.67% during mid-day trading on Thursday, hitting $21.8003. 183,095 shares of the company’s stock traded hands. Cheetah Mobile has a 52-week low of $12.50 and a 52-week high of $21.21. The stock’s 50-day moving average is $15.59 and its 200-day moving average is $15.59. The company has a market cap of $2.043 billion and a P/E ratio of 282.60.
Cheetah Mobile Inc develops Internet security software, based in China. It is a wholly-owned subsidiary of Kingsoft Corporation Limited.
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