Cheer (NASDAQ:CHR) Shares Down 3% – Here’s What Happened

Cheer Holding, Inc. (NASDAQ:CHR)’s share price dropped 3% on Wednesday . The stock traded as low as $1.88 and last traded at $1.96. Approximately 51,910 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 387,450 shares. The stock had previously closed at $2.02.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cheer in a report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Cheer Stock Performance

The business has a 50-day simple moving average of $1.91 and a two-hundred day simple moving average of $3.27.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cheer stock. Jane Street Group LLC bought a new stake in Cheer Holding, Inc. (NASDAQ:CHR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned approximately 1.34% of Cheer at the end of the most recent quarter. Institutional investors and hedge funds 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.