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

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

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cheer in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cheer currently has an average rating of “Sell”.

Cheer Trading Down 3.3%

CHR stock opened at $1.46 on Friday. Cheer has a 52 week low of $1.36 and a 52 week high of $141.71. The firm has a 50 day moving average of $0.18 and a 200 day moving average of $0.79.

Institutional Investors Weigh In On Cheer

A hedge fund recently raised its stake in Cheer stock. Shah Capital Management lifted its position in shares of Cheer Holding, Inc. (NASDAQ:CHR) by 23.8% during the second quarter, according to the company in its most recent Form 13F 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 period. Cheer comprises 0.6% of Shah Capital Management’s portfolio, making the stock its 13th largest position. Shah Capital Management owned 18.13% of Cheer worth $3,081,000 at the end of the most recent reporting period. 18.54% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.