Cheer (NASDAQ:CHR) Rating Increased to Hold at Wall Street Zen

Cheer (NASDAQ:CHR) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Cheer in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Cheer Trading Down 3.3%

CHR opened at $1.46 on Friday. Cheer has a one year low of $1.36 and a one year high of $141.71. The business’s 50-day simple moving average is $0.18 and its 200-day simple moving average is $0.80.

Hedge Funds Weigh In On Cheer

A hedge fund recently raised its stake in Cheer stock. Shah Capital Management raised its holdings in Cheer Holding, Inc. (NASDAQ:CHR) by 23.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,110,000 shares of the company’s stock after purchasing an additional 404,950 shares during the quarter. Cheer accounts for about 0.6% of Shah Capital Management’s holdings, making the stock its 13th biggest position. Shah Capital Management owned approximately 18.13% of Cheer worth $3,081,000 at the end of the most recent quarter. 18.54% of the stock is owned by hedge funds and other 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.