Cheer Holding, Inc. (NASDAQ:CHR) Sees Large Increase in Short Interest

Cheer Holding, Inc. (NASDAQ:CHR) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 75,100 shares, a growth of 207.8% from the November 30th total of 24,400 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 90,600 shares, the short-interest ratio is currently 0.8 days.

Cheer Trading Down 3.7 %

Shares of CHR stock traded down $0.10 during trading hours on Friday, hitting $2.58. 20,382 shares of the company were exchanged, compared to its average volume of 34,233. Cheer has a 52-week low of $2.18 and a 52-week high of $3.90. The firm has a fifty day simple moving average of $2.74 and a 200 day simple moving average of $2.66.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cheer stock. Shah Capital Management boosted its stake in Cheer Holding, Inc. (NASDAQ:CHR) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,302,400 shares of the company’s stock after buying an additional 36,842 shares during the period. Cheer accounts for approximately 0.7% of Shah Capital Management’s portfolio, making the stock its 14th largest position. Shah Capital Management owned 12.95% of Cheer worth $3,321,000 at the end of the most recent reporting period. 18.54% of the stock is currently owned by hedge funds and other institutional investors.

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.