Cheer (NASDAQ:CHR) Shares Down 2.9% – Time to Sell?

Cheer Holding, Inc. (NASDAQ:CHR)’s stock price was down 2.9% during trading on Thursday . The company traded as low as $1.84 and last traded at $1.8550. Approximately 11,886 shares changed hands during trading, a decline of 82% from the average session volume of 66,854 shares. The stock had previously closed at $1.91.

Analysts Set New Price Targets

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

Cheer Stock Down 1.9%

The stock’s fifty day simple moving average is $1.98 and its 200-day simple moving average is $2.83.

Hedge Funds Weigh In On Cheer

A hedge fund recently bought a new position in Cheer stock. Jane Street Group LLC bought a new position in shares of Cheer Holding, Inc. (NASDAQ:CHR) during the fourth quarter, according to the company in its most recent 13F filing 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 about 1.34% of Cheer as of its most recent filing with the Securities and Exchange Commission (SEC). 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.