Cheer Holding, Inc. (NASDAQ:CHR – Get Free Report) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 22,700 shares, a growth of 18.8% from the September 15th total of 19,100 shares. Based on an average daily volume of 14,100 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.4% of the company’s shares are sold short.
Cheer Price Performance
Cheer stock traded down $0.04 during midday trading on Wednesday, hitting $2.95. 1,222 shares of the stock were exchanged, compared to its average volume of 14,717. The stock’s 50-day simple moving average is $2.62 and its 200 day simple moving average is $2.64. Cheer has a fifty-two week low of $2.18 and a fifty-two week high of $4.30.
Institutional Trading of Cheer
An institutional investor recently raised its position in Cheer stock. Shah Capital Management lifted its stake in Cheer Holding, Inc. (NASDAQ:CHR – Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,265,558 shares of the company’s stock after acquiring an additional 8,867 shares during the quarter. Cheer accounts for 0.9% of Shah Capital Management’s investment portfolio, making the stock its 12th largest position. Shah Capital Management owned 12.57% of Cheer worth $3,164,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 18.54% of the company’s stock.
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.
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