Cheer Holding, Inc. (NASDAQ:CHR) Sees Large Growth in Short Interest

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 72,712 shares, a growth of 116.2% from the April 30th total of 33,638 shares. Based on an average trading volume of 57,247 shares, the short-interest ratio is currently 1.3 days. Currently, 8.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Cheer

An institutional investor recently bought a new position in Cheer stock. Jane Street Group LLC purchased a new stake in Cheer Holding, Inc. (NASDAQ:CHR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned 1.34% of Cheer at the end of the most recent quarter. 18.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cheer in a research note on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Cheer currently has a consensus rating of “Sell”.

Cheer Trading Down 1.4%

Cheer stock traded down $0.03 during mid-day trading on Friday, hitting $2.07. 69,593 shares of the company’s stock traded hands, compared to its average volume of 103,864. The firm has a 50 day simple moving average of $1.99 and a two-hundred day simple moving average of $3.90. Cheer has a fifty-two week low of $1.25 and a fifty-two week high of $313.50.

Cheer (NASDAQ:CHR) last announced its earnings results on Friday, March 20th. The company reported ($14.14) earnings per share for the quarter, missing analysts’ consensus estimates of $345.00 by ($359.14). The firm had revenue of $38.92 million during the quarter, compared to the consensus estimate of $73.00 million.

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. In addition, it operates CHEERS app, an integrated e-commerce service with professionally produced content; CHEERS Video app, a media platform that engages users with content; and CHEERS e-Mall, an e-Mall app that offers products to the users through third party merchants through live streaming, online short videos, and online games.