Cheer Holding, Inc. (NASDAQ:CHR) Sees Significant Increase in Short Interest

Cheer Holding, Inc. (NASDAQ:CHR) saw a significant increase in short interest in September. As of September 15th, there was short interest totaling 318,400 shares, an increase of 291.2% from the August 31st total of 81,400 shares. Based on an average daily trading volume, of 294,600 shares, the short-interest ratio is currently 1.1 days. Approximately 5.0% of the company’s shares are sold short. Approximately 5.0% of the company’s shares are sold short. Based on an average daily trading volume, of 294,600 shares, the short-interest ratio is currently 1.1 days.

Institutional Trading of Cheer

An institutional investor recently bought a new position in Cheer stock. Groupe la Francaise acquired a new stake in shares of Cheer Holding, Inc. (NASDAQ:CHR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 88,035 shares of the company’s stock, valued at approximately $117,000. Groupe la Francaise owned 0.76% of Cheer at the end of the most recent quarter. Institutional investors and hedge funds own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cheer in a report on Saturday, September 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Cheer presently has a consensus rating of “Sell”.

Cheer Trading Up 22.6%

CHR opened at $0.16 on Friday. The firm’s 50 day simple moving average is $1.05 and its two-hundred day simple moving average is $1.29. Cheer has a 1-year low of $0.12 and a 1-year high of $3.45.

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.