Short Interest in Cheer Holding, Inc. (NASDAQ:CHR) Declines By 37.5%

Cheer Holding, Inc. (NASDAQ:CHRGet Free Report) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 16,500 shares, a drop of 37.5% from the August 15th total of 26,400 shares. Based on an average daily trading volume, of 12,400 shares, the short-interest ratio is presently 1.3 days. Approximately 0.3% of the shares of the company are short sold.

Cheer Stock Performance

CHR stock traded down $0.03 during mid-day trading on Friday, hitting $2.41. The company had a trading volume of 13,832 shares, compared to its average volume of 14,658. Cheer has a 12 month low of $2.18 and a 12 month high of $4.30. The stock’s fifty day moving average price is $2.55 and its two-hundred day moving average price is $2.61.

Hedge Funds Weigh In On Cheer

A hedge fund recently raised its stake in Cheer stock. Shah Capital Management raised its position in Cheer Holding, Inc. (NASDAQ:CHRFree Report) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,265,558 shares of the company’s stock after buying an additional 8,867 shares during the quarter. Cheer comprises about 0.9% of Shah Capital Management’s holdings, making the stock its 12th largest position. Shah Capital Management owned about 12.57% of Cheer worth $3,164,000 at the end of the most recent reporting period. Institutional investors own 18.54% of the company’s stock.

Cheer Company Profile

(Get Free Report)

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.

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