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

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 112,998 shares, a decrease of 18.8% from the December 31st total of 139,177 shares. Based on an average daily volume of 189,758 shares, the short-interest ratio is currently 0.6 days. Currently, 4.1% of the shares of the stock are sold short. Currently, 4.1% of the shares of the stock are sold short. Based on an average daily volume of 189,758 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On Cheer

An institutional investor recently raised its position in Cheer stock. Shah Capital Management raised its holdings in shares of Cheer Holding, Inc. (NASDAQ:CHR) by 23.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,110,000 shares of the company’s stock after acquiring an additional 404,950 shares during the quarter. Cheer makes up 0.6% of Shah Capital Management’s investment portfolio, making the stock its 13th largest holding. Shah Capital Management owned 18.13% of Cheer worth $3,081,000 as of its most recent SEC filing. Institutional investors own 18.54% of the company’s stock.

Analyst Ratings Changes

CHR has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cheer in a report on Wednesday, January 21st. Wall Street Zen upgraded Cheer to a “hold” rating in a report on Saturday, December 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Cheer Trading Down 2.8%

Cheer stock traded down $0.04 during midday trading on Tuesday, reaching $1.23. The stock had a trading volume of 76,434 shares, compared to its average volume of 151,503. Cheer has a twelve month low of $1.18 and a twelve month high of $141.71. The firm’s fifty day simple moving average is $1.72 and its two-hundred day simple moving average is $24.22.

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. 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.