Cheer (NASDAQ:CHR) Shares Set to Reverse Split on Tuesday, April 7th

Cheer Holding, Inc. (NASDAQ:CHR) shares are scheduled to reverse split on the morning of Tuesday, April 7th. The 1-3 reverse split was announced on Thursday, April 2nd. The number of shares owned by shareholders will be adjusted after the market closes on Monday, April 6th.

Cheer Stock Down 7.6%

Shares of CHR stock opened at $0.80 on Friday. The stock has a 50-day moving average of $1.18 and a 200-day moving average of $5.54. Cheer has a one year low of $0.73 and a one year high of $104.50.

Cheer (NASDAQ:CHR) last released its quarterly earnings data on Friday, March 20th. The company reported ($4.72) earnings per share for the quarter, missing the consensus estimate of $115.00 by ($119.72). The company had revenue of $38.92 million for the quarter, compared to analyst estimates of $73.00 million.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CHR. Wall Street Zen raised shares of Cheer to a “hold” rating in a research report on Saturday, December 27th. Weiss Ratings restated a “sell (d)” rating on shares of Cheer in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Trading of Cheer

A hedge fund recently bought a new stake in Cheer stock. Jane Street Group LLC bought a new position in shares of Cheer Holding, Inc. (NASDAQ:CHR) in the fourth quarter, according to its most recent Form 13F filing 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 approximately 1.34% of Cheer as of its most recent filing with the Securities and Exchange Commission. 18.54% of the stock is owned by institutional investors.

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.