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

Cheer Holding, Inc. (NASDAQ:CHR) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 36,400 shares, an increase of 33.3% from the February 28th total of 27,300 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 40,600 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On Cheer

A number of large investors have recently added to or reduced their stakes in CHR. Nomura Holdings Inc. purchased a new position in Cheer in the 4th quarter valued at about $45,000. Credit Industriel ET Commercial purchased a new position in Cheer in the fourth quarter valued at about $68,000. Cigogne Management SA acquired a new stake in Cheer during the 4th quarter valued at approximately $223,000. Finally, Shah Capital Management increased its stake in shares of Cheer by 24.0% in the fourth quarter. Shah Capital Management now owns 1,614,921 shares of the company’s stock worth $4,021,000 after buying an additional 312,521 shares during the last quarter. 18.54% of the stock is owned by institutional investors and hedge funds.

Cheer Stock Up 0.7 %

NASDAQ:CHR traded up $0.01 during trading hours on Wednesday, hitting $1.38. The stock had a trading volume of 5,857 shares, compared to its average volume of 38,655. The business has a 50 day simple moving average of $2.12 and a two-hundred day simple moving average of $2.50. Cheer has a 1-year low of $1.30 and a 1-year high of $3.45.

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.