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

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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, the stock presently has an average rating of “Sell”.

Cheer Trading Up 10.9%

The company has a fifty day moving average of $1.92 and a 200-day moving average of $3.24.

Institutional Trading of Cheer

An institutional investor recently bought a new position in Cheer stock. Jane Street Group LLC bought a new stake in Cheer Holding, Inc. (NASDAQ:CHR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned about 1.34% of Cheer at the end of the most recent reporting period. Institutional investors own 18.54% of the company’s stock.

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.