Cheer (NASDAQ:CHR) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Cheer (NASDAQ:CHR) to a hold rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cheer in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Cheer presently has a consensus rating of “Sell”.

Cheer Trading Down 3.3%

Shares of NASDAQ:CHR opened at $1.46 on Friday. Cheer has a 52-week low of $1.36 and a 52-week high of $141.71. The business’s 50 day simple moving average is $0.18 and its two-hundred day simple moving average is $0.80.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cheer stock. Shah Capital Management boosted its position in Cheer Holding, Inc. (NASDAQ:CHR) by 23.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,110,000 shares of the company’s stock after purchasing an additional 404,950 shares during the period. Cheer comprises 0.6% of Shah Capital Management’s investment portfolio, making the stock its 13th biggest position. Shah Capital Management owned approximately 18.13% of Cheer worth $3,081,000 at the end of the most recent reporting period. 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.