Short Interest in Cheer Holding, Inc. (NASDAQ:CHR) Rises By 35.9%

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 58,700 shares, an increase of 35.9% from the January 31st total of 43,200 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 103,200 shares, the short-interest ratio is presently 0.6 days.

Cheer Price Performance

Shares of CHR stock traded down $0.07 on Wednesday, reaching $1.73. 15,216 shares of the company’s stock were exchanged, compared to its average volume of 34,112. The company’s fifty day simple moving average is $2.47 and its 200 day simple moving average is $2.61. Cheer has a 52 week low of $1.54 and a 52 week high of $3.90.

Institutional Trading of Cheer

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. purchased a new position in Cheer in the 4th quarter worth about $45,000. Credit Industriel ET Commercial bought a new position in Cheer in the 4th quarter worth about $68,000. Cigogne Management SA purchased a new position in shares of Cheer during the fourth quarter worth approximately $223,000. Finally, Shah Capital Management raised its stake in shares of Cheer by 24.0% during the fourth quarter. Shah Capital Management now owns 1,614,921 shares of the company’s stock valued at $4,021,000 after acquiring an additional 312,521 shares in the last quarter. 18.54% of the stock is currently owned by 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.