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

Cheer Holding, Inc. (NASDAQ:CHR) saw a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 167,128 shares, a drop of 15.6% from the February 12th total of 198,082 shares. Approximately 6.1% of the shares of the company are sold short. Based on an average daily trading volume, of 64,151 shares, the days-to-cover ratio is presently 2.6 days. Based on an average daily trading volume, of 64,151 shares, the days-to-cover ratio is presently 2.6 days. Approximately 6.1% of the shares of the company are sold short.

Cheer Trading Up 2.5%

Shares of NASDAQ:CHR traded up $0.02 during midday trading on Tuesday, reaching $1.01. 65,613 shares of the company’s stock traded hands, compared to its average volume of 114,217. The company has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $8.93. Cheer has a 1 year low of $0.95 and a 1 year high of $104.50.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cheer stock. Jane Street Group LLC bought a new position in shares of Cheer Holding, Inc. (NASDAQ:CHR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned about 1.34% of Cheer at the end of the most recent reporting period. 18.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CHR has been the subject of a number of research reports. Wall Street Zen raised shares of Cheer to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Cheer in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

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. In addition, it operates CHEERS app, an integrated e-commerce service with professionally produced content; CHEERS Video app, a media platform that engages users with content; and CHEERS e-Mall, an e-Mall app that offers products to the users through third party merchants through live streaming, online short videos, and online games.