Cheer Holding, Inc. (NASDAQ:CHR) Short Interest Up 8.8% in July

Cheer Holding, Inc. (NASDAQ:CHR) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 16,000 shares, a growth of 8.8% from the June 30th total of 14,700 shares. Based on an average daily volume of 10,100 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.3% of the company’s shares are sold short.

Hedge Funds Weigh In On Cheer

An institutional investor recently raised its position in Cheer stock. Shah Capital Management raised its holdings in Cheer Holding, Inc. (NASDAQ:CHR) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,265,558 shares of the company’s stock after buying an additional 8,867 shares during the period. Cheer makes up approximately 0.9% of Shah Capital Management’s portfolio, making the stock its 12th largest position. Shah Capital Management owned 12.57% of Cheer worth $3,164,000 as of its most recent SEC filing. Institutional investors own 18.54% of the company’s stock.

Cheer Stock Performance

CHR stock opened at $3.00 on Thursday. Cheer has a one year low of $2.18 and a one year high of $6.75. The firm’s 50 day moving average price is $2.63 and its 200-day moving average price is $2.63. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 0.01.

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.