Glory Star New Media Group Holdings Limited [GSMG] moved up 5.42: Why It’s Important

Glory Star New Media Group Holdings Limited [NASDAQ: GSMG] stock went on an upward path that rose over 5.42% on Tuesday, amounting to a one-week price increase of more than 4.83%. The company report on November 17, 2020 that Glory Star Takes Strategic Investment from an affiliate of Baidu Yi Xin at US$10.31 per Share.

Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (“Glory Star” or the “Company”), a leading mobile and online digital media and entertainment company in China, announced that it has completed the closing of the subscription agreement with Hong Kong Duoku Limited, an affiliate of Baidu Yi Xin Network Technology (Beijing) Co., Ltd. (“Baidu Yi Xin”), for the issuance of 193,986 Ordinary Shares at a purchase price of $10.31 per share.

In 2011, Baidu Yi Xin was established as a joint venture between Baidu Inc., the operator of the world’s largest Chinese search engine service, and NTT Docomo Inc., the predominant mobile phone operator in Japan. By utilizing Baidu Inc.’s mobile business as its foundation, Baidu Yi Xin has refined its operations for mobile games, digital reading, and online music services to provide mobile Internet users with best-in-class entertainment services and become an independent network technology company.

Over the last 12 months, GSMG stock dropped by -72.38%.

The market cap for the stock reached $157.38 million, with 45.51 million shares outstanding and 17.79 million shares in the current float. Compared to the average trading volume of 26.79K shares, GSMG stock reached a trading volume of 1208223 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Glory Star New Media Group Holdings Limited [GSMG]:

The Average True Range (ATR) for Glory Star New Media Group Holdings Limited is set at 0.26, with the Price to Sales ratio for GSMG stock in the period of the last 12 months amounting to 5.35. The Price to Book ratio for the last quarter was 2.07, with the Price to Cash per share for the same quarter was set at 0.18.

GSMG Stock Performance Analysis:

Glory Star New Media Group Holdings Limited [GSMG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.83. With this latest performance, GSMG shares gained by 4.44% in over the last four-week period, additionally sinking by -29.50% over the last 6 months – not to mention a drop of -72.38% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GSMG stock in for the last two-week period is set at 52.26, with the RSI for the last a single of trading hit 63.04, and the three-weeks RSI is set at 49.81 for Glory Star New Media Group Holdings Limited [GSMG]. The present Moving Average for the last 50 days of trading for this stock 2.87, while it was recorded at 2.67 for the last single week of trading, and 3.67 for the last 200 days.

Insight into Glory Star New Media Group Holdings Limited Fundamentals:

Glory Star New Media Group Holdings Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30.

Glory Star New Media Group Holdings Limited [GSMG] Insider Position Details

There are presently around $1 million, or 3.60% of GSMG stock, in the hands of institutional investors. The top three institutional holders of GSMG stocks are: LINDEN ADVISORS LP with ownership of 96,676, which is approximately -7.698% of the company’s market cap and around 15.80% of the total institutional ownership; DAVIDSON KEMPNER CAPITAL MANAGEMENT LP, holding 70,999 shares of the stock with an approximate value of $0.2 million in GSMG stocks shares; and YAKIRA CAPITAL MANAGEMENT, INC., currently with $0.1 million in GSMG stock with ownership of nearly 0% of the company’s market capitalization.

1 institutional holders increased their position in Glory Star New Media Group Holdings Limited [NASDAQ:GSMG] by around 1,124 shares. Additionally, 5 investors decreased positions by around 2,063,171 shares, while 1 investors held positions by with 1,805,474 shares. The mentioned changes placed institutional holdings at 258,821 shares, according to the latest SEC report filing. GSMG stock had 1 new institutional investments in for a total of 1,124 shares, while 1 institutional investors sold positions of 1,559,238 shares during the same period.

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