Cheer Holding, Inc. (NASDAQ:CHR) Short Interest Up 291.2% in September

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 318,400 shares, an increase of 291.2% from the August 31st total of 81,400 shares. Based on an average daily trading volume, of 294,600 shares, the days-to-cover ratio is presently 1.1 days. Currently, 5.0% of the company’s stock are short sold. Currently, 5.0% of the company’s stock are short sold. Based on an average daily trading volume, of 294,600 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Investors Weigh In On Cheer

An institutional investor recently raised its position in Cheer stock. Shah Capital Management boosted its position in Cheer Holding, Inc. (NASDAQ:CHR) by 23.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,110,000 shares of the company’s stock after buying an additional 404,950 shares during the quarter. Cheer makes up about 0.6% of Shah Capital Management’s portfolio, making the stock its 13th biggest position. Shah Capital Management owned about 18.13% of Cheer worth $3,081,000 at the end of the most recent reporting period. 18.54% of the stock is owned by hedge funds and other institutional investors.

Cheer Price Performance

Shares of Cheer stock opened at $0.13 on Friday. The business’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $1.30. Cheer has a 52-week low of $0.12 and a 52-week high of $3.45.

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.