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

Cheer Holding, Inc. (NASDAQ:CHR) saw a large growth in short interest during the month of 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. Based on an average daily volume of 103,200 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.8% of the company’s shares are sold short.

Institutional Investors Weigh In On Cheer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Shah Capital Management lifted 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 purchasing an additional 312,521 shares during the last quarter. Cigogne Management SA acquired a new position in Cheer in the fourth quarter valued at about $223,000. Credit Industriel ET Commercial purchased a new position in Cheer during the fourth quarter worth about $68,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Cheer during the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 18.54% of the company’s stock.

Cheer Stock Performance

Shares of NASDAQ CHR opened at $1.83 on Tuesday. The company has a 50 day simple moving average of $2.49 and a 200-day simple moving average of $2.62. Cheer has a 1 year low of $1.82 and a 1 year 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.