Cheer Holding, Inc. (NASDAQ:CHR) Short Interest Up 9.4% in January

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 43,200 shares, an increase of 9.4% from the January 15th total of 39,500 shares. Based on an average daily volume of 95,700 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.6% of the company’s stock are short sold.

Cheer Price Performance

NASDAQ CHR traded down $0.04 during trading on Friday, reaching $2.52. The company’s stock had a trading volume of 32,841 shares, compared to its average volume of 22,302. The business has a 50-day moving average price of $2.57 and a 200-day moving average price of $2.65. Cheer has a 1-year low of $2.26 and a 1-year high of $3.90.

Institutional Trading of Cheer

Institutional investors have recently added to or reduced their stakes in the business. Shah Capital Management raised its position in shares of Cheer by 24.0% in the fourth quarter. Shah Capital Management now owns 1,614,921 shares of the company’s stock valued at $4,021,000 after purchasing an additional 312,521 shares during the period. Cigogne Management SA acquired a new stake in Cheer during the fourth quarter worth $223,000. Finally, Credit Industriel ET Commercial acquired a new stake in Cheer during the fourth quarter worth $68,000. 18.54% of the stock is currently owned by institutional investors and hedge funds.

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.