Cheer (NASDAQ:CHR) Shares Down 2.9% – What’s Next?

Cheer Holding, Inc. (NASDAQ:CHR)’s stock price dropped 2.9% during trading on Tuesday . The company traded as low as $0.68 and last traded at $0.69. Approximately 91,658 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 763,727 shares. The stock had previously closed at $0.71.

Cheer Trading Down 2.9%

The company has a 50-day moving average price of $1.31 and a two-hundred day moving average price of $1.38.

Institutional Trading of Cheer

Institutional investors and hedge funds have recently made changes to their positions in the company. Nomura Holdings Inc. purchased a new stake in Cheer during the fourth quarter worth $45,000. Groupe la Francaise purchased a new stake in shares of Cheer during the first quarter valued at about $117,000. Finally, Shah Capital Management boosted its holdings in shares of Cheer by 5.6% in the 1st quarter. Shah Capital Management now owns 1,705,050 shares of the company’s stock valued at $2,268,000 after buying an additional 90,129 shares in the last quarter. 18.54% of the stock is currently 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.