Cheer (NASDAQ:CHR) Stock Price Down 7.6% – Should You Sell?

Cheer Holding, Inc. (NASDAQ:CHR) dropped 7.6% on Monday . The company traded as low as $1.28 and last traded at $1.33. Approximately 55,174 shares traded hands during trading, a decline of 51% from the average daily volume of 113,754 shares. The stock had previously closed at $1.44.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CHR. Wall Street Zen upgraded shares of Cheer to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings restated a “sell (d)” rating on shares of Cheer in a research note on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Cheer currently has a consensus rating of “Sell”.

Cheer Price Performance

The company’s 50-day moving average is $1.48 and its 200 day moving average is $14.88.

Hedge Funds Weigh In On Cheer

An institutional investor recently bought a new position in Cheer stock. Jane Street Group LLC bought a new position in Cheer Holding, Inc. (NASDAQ:CHR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned about 1.34% of Cheer at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.54% of the company’s stock.

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.