Cheer Holding, Inc. (NASDAQ:CHR) Short Interest Up 33.3% in March

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 36,400 shares, a growth of 33.3% from the February 28th total of 27,300 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 40,600 shares, the short-interest ratio is currently 0.9 days.

Cheer Stock Performance

Shares of NASDAQ CHR traded down $0.01 during midday trading on Monday, hitting $1.34. The stock had a trading volume of 67,026 shares, compared to its average volume of 38,838. The stock has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $2.52. Cheer has a 1 year low of $1.33 and a 1 year high of $3.45.

Institutional Investors Weigh In On Cheer

A number of large investors have recently made changes to their positions in the stock. Shah Capital Management boosted its stake in Cheer by 24.0% during the fourth quarter. Shah Capital Management now owns 1,614,921 shares of the company’s stock worth $4,021,000 after buying an additional 312,521 shares during the last quarter. Cigogne Management SA acquired a new stake in shares of Cheer in the 4th quarter worth $223,000. Credit Industriel ET Commercial purchased a new position in shares of Cheer during the 4th quarter worth $68,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of Cheer in the fourth quarter valued at about $45,000. 18.54% of the stock is currently owned by hedge funds and other institutional investors.

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.