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

Cheer Holding, Inc. (NASDAQ:CHR) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 58,700 shares, an increase of 35.9% from the January 31st total of 43,200 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily trading volume, of 103,200 shares, the short-interest ratio is currently 0.6 days.

Institutional Trading of Cheer

Several hedge funds have recently modified their holdings of CHR. Shah Capital Management boosted its stake in shares of Cheer by 24.0% in the 4th quarter. Shah Capital Management now owns 1,614,921 shares of the company’s stock valued at $4,021,000 after buying an additional 312,521 shares during the period. Cigogne Management SA acquired a new position in Cheer during the 4th quarter worth approximately $223,000. Credit Industriel ET Commercial purchased a new stake in shares of Cheer in the 4th quarter valued at approximately $68,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Cheer in the 4th quarter valued at $45,000. 18.54% of the stock is currently owned by institutional investors and hedge funds.

Cheer Trading Down 6.2 %

Cheer stock opened at $1.83 on Tuesday. The company’s 50 day moving average is $2.49 and its two-hundred day moving average is $2.62. Cheer has a 52-week low of $1.82 and a 52-week high of $3.90.

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.