Cheer (NASDAQ:CHR) Trading Up 11.5% – Time to Buy?

Cheer Holding, Inc. (NASDAQ:CHR) shot up 11.5% during mid-day trading on Monday . The stock traded as high as $1.97 and last traded at $1.94. 109,439 shares changed hands during trading, an increase of 122% from the average session volume of 49,215 shares. The stock had previously closed at $1.74.

Wall Street Analyst Weigh In

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

Cheer Trading Up 11.5%

The stock has a fifty day simple moving average of $2.20 and a 200-day simple moving average of $4.68.

Cheer (NASDAQ:CHR) last announced its quarterly earnings results on Friday, March 20th. The company reported ($14.14) EPS for the quarter, missing analysts’ consensus estimates of $345.00 by ($359.14). The firm had revenue of $38.92 million during the quarter, compared to the consensus estimate of $73.00 million.

Hedge Funds Weigh In On Cheer

An institutional investor recently bought a new position in Cheer stock. Jane Street Group LLC bought a new position in Cheer Holding, Inc. (NASDAQ:CHR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned 1.34% of Cheer at the end of the most recent quarter. 18.54% of the stock is currently owned by hedge funds and other institutional investors.

About Cheer

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.