Cheer Holding, Inc. (NASDAQ:CHR) Short Interest Update

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 27,300 shares, a drop of 53.5% from the February 13th total of 58,700 shares. Based on an average trading volume of 92,300 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.4% of the shares of the stock are short sold.

Institutional Trading of Cheer

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nomura Holdings Inc. acquired a new position in Cheer during the fourth quarter worth about $45,000. Credit Industriel ET Commercial bought a new position in shares of Cheer during the 4th quarter valued at about $68,000. Cigogne Management SA acquired a new position in shares of Cheer in the 4th quarter worth approximately $223,000. Finally, Shah Capital Management raised its holdings in shares of Cheer by 24.0% in the 4th quarter. Shah Capital Management now owns 1,614,921 shares of the company’s stock worth $4,021,000 after purchasing an additional 312,521 shares in the last quarter. Institutional investors own 18.54% of the company’s stock.

Cheer Price Performance

Shares of NASDAQ:CHR opened at $1.67 on Friday. The stock’s 50 day moving average price is $2.35 and its 200 day moving average price is $2.57. Cheer has a 12 month low of $1.54 and a 12 month high of $3.90.

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.