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

Cheer Holding, Inc. (NASDAQ:CHR)’s stock is 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 closing bell on Monday, April 6th.

Cheer Stock Down 7.6%

Cheer stock opened at $0.80 on Friday. The company has a fifty day simple moving average of $1.18 and a 200-day simple moving average of $5.54. Cheer has a 12-month low of $0.73 and a 12-month high of $104.50.

Cheer (NASDAQ:CHR) last issued its earnings results on Friday, March 20th. The company reported ($4.72) EPS for the quarter, missing analysts’ consensus estimates of $115.00 by ($119.72). The company had revenue of $38.92 million for the quarter, compared to analysts’ expectations of $73.00 million.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Cheer in a research report on Wednesday, January 21st. Wall Street Zen raised Cheer to a “hold” rating in a report on Saturday, December 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Cheer

An institutional investor recently bought a new position in Cheer stock. Jane Street Group LLC acquired a new position in shares of Cheer Holding, Inc. (NASDAQ:CHR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned about 1.34% of Cheer as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 18.54% of the company’s stock.

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.