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

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 22,700 shares, a growth of 41.9% from the July 15th total of 16,000 shares. Based on an average daily volume of 11,700 shares, the short-interest ratio is currently 1.9 days. Approximately 0.4% of the company’s shares are short sold.

Institutional Trading of Cheer

A hedge fund recently raised its stake in Cheer stock. Shah Capital Management lifted its position in Cheer Holding, Inc. (NASDAQ:CHR) by 0.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,265,558 shares of the company’s stock after acquiring an additional 8,867 shares during the period. Cheer accounts for about 0.9% of Shah Capital Management’s investment portfolio, making the stock its 12th largest holding. Shah Capital Management owned about 12.57% of Cheer worth $3,164,000 at the end of the most recent reporting period. 18.54% of the stock is owned by institutional investors.

Cheer Stock Down 0.8 %

Shares of NASDAQ CHR traded down $0.02 during mid-day trading on Thursday, hitting $2.63. The stock had a trading volume of 15,251 shares, compared to its average volume of 15,652. The business has a 50 day moving average price of $2.62 and a two-hundred day moving average price of $2.63. Cheer has a 1 year low of $2.18 and a 1 year high of $6.75.

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.