Wall Street Zen Upgrades Cheer (NASDAQ:CHR) to “Hold”

Cheer (NASDAQ:CHR) was upgraded by analysts at Wall Street Zen to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cheer in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cheer currently has an average rating of “Sell”.

Cheer Stock Down 3.3%

NASDAQ CHR opened at $1.46 on Friday. The business has a 50 day moving average price of $0.18 and a 200 day moving average price of $0.80. Cheer has a 1-year low of $1.36 and a 1-year high of $141.71.

Hedge Funds Weigh In On Cheer

An institutional investor recently raised its position in Cheer stock. Shah Capital Management raised its stake in Cheer Holding, Inc. (NASDAQ:CHR) by 23.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,110,000 shares of the company’s stock after purchasing an additional 404,950 shares during the quarter. Cheer comprises approximately 0.6% of Shah Capital Management’s holdings, making the stock its 13th biggest holding. Shah Capital Management owned approximately 18.13% of Cheer worth $3,081,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.54% of the company’s stock.

Cheer Company Profile

Cheer Holding, Inc, through its subsidiaries, provides advertisement and content production services in the People’s Republic of China. It operates through Cheers APP Internet Business and Traditional Media Businesses segments. The company also engages in mobile and online advertising, and media and entertainment businesses. In addition, it operates CHEERS app, an integrated e-commerce service with professionally produced content; CHEERS Video app, a media platform that engages users with content; and CHEERS e-Mall, an e-Mall app that offers products to the users through third party merchants through live streaming, online short videos, and online games.