Cheer Holding, Inc. (NASDAQ:CHR) Short Interest Up 35.9% in February

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 58,700 shares, a growth of 35.9% from the January 31st total of 43,200 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 103,200 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of Cheer

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nomura Holdings Inc. acquired a new stake in shares of Cheer in the fourth quarter worth $45,000. Credit Industriel ET Commercial acquired a new stake in Cheer during the fourth quarter valued at $68,000. Cigogne Management SA acquired a new stake in Cheer during the fourth quarter valued at $223,000. Finally, Shah Capital Management grew its position in Cheer by 24.0% during the fourth 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. Institutional investors and hedge funds own 18.54% of the company’s stock.

Cheer Stock Performance

Shares of Cheer stock opened at $1.70 on Thursday. Cheer has a 12-month low of $1.54 and a 12-month high of $3.90. The firm’s 50 day simple moving average is $2.45 and its two-hundred day simple moving average is $2.61.

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.