Short Interest in Cheer Holding, Inc. (NASDAQ:CHR) Rises By 8.8%

Cheer Holding, Inc. (NASDAQ:CHR) was the recipient of a significant 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 short-interest ratio is presently 1.6 days. Currently, 0.3% of the company’s stock are sold short.

Cheer Price Performance

CHR opened at $2.96 on Thursday. Cheer has a 12-month low of $2.18 and a 12-month high of $6.75. The business has a 50 day moving average of $2.63 and a 200-day moving average of $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.

Institutional Trading of Cheer

An institutional investor recently raised its position in Cheer stock. Shah Capital Management grew its holdings in Cheer Holding, Inc. (NASDAQ:CHR) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,265,558 shares of the company’s stock after purchasing an additional 8,867 shares during the period. Cheer makes up about 0.9% of Shah Capital Management’s portfolio, making the stock its 12th biggest position. Shah Capital Management owned about 12.57% of Cheer worth $3,164,000 at the end of the most recent quarter. 18.54% of the stock is currently owned by hedge funds and other 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.