Short Interest in Cheer Holding, Inc. (NASDAQ:CHR) Expands By 197.3%

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 391,600 shares, an increase of 197.3% from the September 30th total of 131,700 shares. Approximately 4.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 11,420,000 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 11,420,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 4.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Cheer

An institutional investor recently raised its position in Cheer stock. Shah Capital Management increased its stake in shares of Cheer Holding, Inc. (NASDAQ:CHR) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,705,050 shares of the company’s stock after acquiring an additional 90,129 shares during the period. Cheer comprises about 0.5% of Shah Capital Management’s portfolio, making the stock its 15th largest position. Shah Capital Management owned about 14.65% of Cheer worth $2,268,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 18.54% of the company’s stock.

Cheer Stock Down 7.7%

Cheer stock opened at $0.12 on Thursday. Cheer has a 12-month low of $0.11 and a 12-month high of $3.45. The stock has a 50-day simple moving average of $0.57 and a 200 day simple moving average of $1.13.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cheer in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

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.