Cheer (NASDAQ:CHR) Shares to Reverse Split on Tuesday, April 7th

Cheer Holding, Inc. (NASDAQ:CHR) shares are set to reverse split on Tuesday, April 7th. The 1-3 reverse split was announced on Thursday, April 2nd. The number of shares owned by shareholders will be adjusted after the market closes on Monday, April 6th.

Cheer Stock Down 7.6%

Shares of NASDAQ CHR opened at $0.80 on Friday. Cheer has a one year low of $0.73 and a one year high of $104.50. The business’s fifty day moving average price is $1.18 and its 200-day moving average price is $5.54.

Cheer (NASDAQ:CHR) last announced its quarterly earnings data on Friday, March 20th. The company reported ($4.72) earnings per share for the quarter, missing the consensus estimate of $115.00 by ($119.72). The company had revenue of $38.92 million during the quarter, compared to the consensus estimate of $73.00 million.

Wall Street Analysts Forecast Growth

CHR has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Cheer in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Cheer to a “hold” rating in a research note on Saturday, December 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cheer has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cheer stock. Jane Street Group LLC purchased a new position in 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 purchased 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned approximately 1.34% of Cheer at the end of the most recent quarter. 18.54% of the stock is owned by institutional investors and hedge funds.

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.