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

Cheer Holding, Inc. (NASDAQ:CHR) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 19,300 shares, an increase of 14.2% from the October 15th total of 16,900 shares. Based on an average trading volume of 10,700 shares, the short-interest ratio is currently 1.8 days. Approximately 0.3% of the company’s stock are sold short.

Cheer Price Performance

NASDAQ CHR traded down $0.06 during trading hours on Friday, hitting $2.62. The company’s stock had a trading volume of 9,835 shares, compared to its average volume of 6,456. Cheer has a 52 week low of $2.18 and a 52 week high of $3.90. The company’s 50-day simple moving average is $2.77 and its two-hundred day simple moving average is $2.68.

Institutional Investors Weigh In On Cheer

A hedge fund recently raised its stake in Cheer stock. Shah Capital Management lifted its position in Cheer Holding, Inc. (NASDAQ:CHR) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,265,558 shares of the company’s stock after acquiring an additional 8,867 shares during the quarter. Cheer makes up approximately 0.9% of Shah Capital Management’s portfolio, making the stock its 12th largest position. Shah Capital Management owned about 12.57% of Cheer worth $3,164,000 at the end of the most recent reporting period. 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.