Cheer Holding, Inc. (NASDAQ:CHR) Short Interest Update

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 93,311 shares, a drop of 44.2% from the February 26th total of 167,128 shares. Based on an average daily trading volume, of 67,535 shares, the days-to-cover ratio is currently 1.4 days. Approximately 3.4% of the company’s stock are short sold.

Cheer Stock Down 1.9%

CHR opened at $0.82 on Friday. Cheer has a 12-month low of $0.80 and a 12-month high of $104.50. The business has a 50 day moving average of $1.24 and a 200-day moving average of $6.32.

Cheer (NASDAQ:CHR) last posted its earnings results on Friday, March 20th. The company reported ($4.72) earnings per share for the quarter, missing analysts’ consensus estimates of $115.00 by ($119.72). The company had revenue of $38.92 million during the quarter, compared to analyst estimates of $73.00 million.

Hedge Funds Weigh In On Cheer

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) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned about 1.34% of Cheer as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CHR has been the topic of several analyst reports. Wall Street Zen raised shares of Cheer to a “hold” rating in a research report on Saturday, December 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Cheer in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

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. 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.