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

Cheer Holding, Inc. (NASDAQ:CHR) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 19,300 shares, an increase of 14.2% from the October 15th total of 16,900 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 10,700 shares, the short-interest ratio is presently 1.8 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cheer stock. Shah Capital Management grew its stake in shares of Cheer Holding, Inc. (NASDAQ:CHR) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,302,400 shares of the company’s stock after purchasing an additional 36,842 shares during the period. Cheer makes up 0.7% of Shah Capital Management’s investment portfolio, making the stock its 14th biggest holding. Shah Capital Management owned about 12.95% of Cheer worth $3,321,000 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.

Cheer Trading Down 2.2 %

Shares of NASDAQ CHR traded down $0.06 during trading on Friday, reaching $2.62. The company had a trading volume of 9,835 shares, compared to its average volume of 6,456. The company’s fifty day moving average price is $2.77 and its 200-day moving average price is $2.68. Cheer has a 12 month low of $2.18 and a 12 month high of $3.90.

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.