Cheer (NASDAQ:CHR) Shares Down 1.1% – Time to Sell?

Cheer Holding, Inc. (NASDAQ:CHR) traded down 1.1% on Wednesday . The company traded as low as $1.78 and last traded at $1.81. Approximately 50,966 shares were traded during trading, an increase of 34% from the average session volume of 38,090 shares. The stock had previously closed at $1.83.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cheer in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Cheer Trading Down 2.2%

The company has a 50 day simple moving average of $1.90 and a 200-day simple moving average of $2.32.

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 its most recent Form 13F 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 1.34% of Cheer as of its most recent filing with the Securities and Exchange Commission (SEC). 18.54% of the stock is owned by institutional investors and hedge funds.

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.