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

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

Cheer Stock Down 2.2 %

CHR traded down $0.06 during mid-day trading on Friday, reaching $2.62. The stock had a trading volume of 9,835 shares, compared to its average volume of 6,456. The firm’s fifty day simple moving average is $2.77 and its two-hundred day simple moving average is $2.68. Cheer has a 52 week low of $2.18 and a 52 week high of $3.90.

Hedge Funds Weigh In On Cheer

An institutional investor recently raised its position in Cheer stock. Shah Capital Management boosted its stake in shares of Cheer Holding, Inc. (NASDAQ:CHR) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,302,400 shares of the company’s stock after purchasing an additional 36,842 shares during the quarter. Cheer comprises approximately 0.7% of Shah Capital Management’s investment portfolio, making the stock its 14th biggest position. Shah Capital Management owned about 12.95% of Cheer worth $3,321,000 as of its most recent SEC filing. Institutional investors own 18.54% of the company’s stock.

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.