Cheer (NASDAQ:CHR) Stock Price Up 2.1% – Time to Buy?

Shares of Cheer Holding, Inc. (NASDAQ:CHR) shot up 2.1% during trading on Thursday . The stock traded as high as $1.48 and last traded at $1.47. 3,910 shares traded hands during trading, a decline of 91% from the average session volume of 44,050 shares. The stock had previously closed at $1.44.

Cheer Stock Performance

The company’s 50-day moving average price is $1.34 and its 200 day moving average price is $1.92.

Hedge Funds Weigh In On Cheer

A number of hedge funds have recently made changes to their positions in CHR. Nomura Holdings Inc. bought a new stake in shares of Cheer in the fourth quarter worth about $45,000. Credit Industriel ET Commercial purchased a new position in Cheer during the 4th quarter valued at approximately $68,000. Cigogne Management SA bought a new position in Cheer during the fourth quarter valued at $223,000. Groupe la Francaise purchased a new stake in shares of Cheer during the 1st quarter valued at about $117,000. Finally, Shah Capital Management increased its stake in Cheer by 5.6% during the first quarter. Shah Capital Management now owns 1,705,050 shares of the company’s stock worth $2,268,000 after acquiring an additional 90,129 shares during the last quarter. 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.