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

Cheer Holding, Inc. (NASDAQ:CHR) was the recipient of 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 stock are short sold.

Cheer Price Performance

CHR stock traded down $0.07 during trading on Wednesday, reaching $1.73. 15,216 shares of the company traded hands, compared to its average volume of 34,112. The business has a 50 day simple moving average of $2.47 and a 200 day simple moving average of $2.61. Cheer has a 12 month low of $1.54 and a 12 month high of $3.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Shah Capital Management lifted its position in Cheer by 24.0% during the fourth quarter. Shah Capital Management now owns 1,614,921 shares of the company’s stock valued at $4,021,000 after acquiring an additional 312,521 shares during the last quarter. Cigogne Management SA acquired a new position in shares of Cheer during the fourth quarter worth $223,000. Credit Industriel ET Commercial purchased a new stake in shares of Cheer during the 4th quarter valued at $68,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of Cheer during the 4th quarter valued at $45,000. Hedge funds and other 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.