Short Interest in Cheer Holding, Inc. (NASDAQ:CHR) Declines By 97.5%

Cheer Holding, Inc. (NASDAQ:CHR) saw a significant decrease in short interest in December. As of December 31st, there was short interest totaling 139,177 shares, a decrease of 97.5% from the December 15th total of 5,570,447 shares. Based on an average trading volume of 432,710 shares, the days-to-cover ratio is presently 0.3 days. Approximately 5.1% of the company’s shares are short sold. Approximately 5.1% of the company’s shares are short sold. Based on an average trading volume of 432,710 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Cheer

An institutional investor recently raised its position in Cheer stock. Shah Capital Management grew its stake in Cheer Holding, Inc. (NASDAQ:CHR) by 23.8% in the 2nd quarter, according to 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 period. Cheer accounts for approximately 0.6% of Shah Capital Management’s holdings, making the stock its 13th largest position. Shah Capital Management owned approximately 18.13% of Cheer worth $3,081,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 18.54% of the company’s stock.

Cheer Price Performance

Shares of NASDAQ CHR traded up $0.20 during midday trading on Monday, reaching $1.80. The company’s stock had a trading volume of 203,625 shares, compared to its average volume of 322,614. The stock has a 50 day simple moving average of $2.14 and a 200-day simple moving average of $32.12. Cheer has a fifty-two week low of $1.22 and a fifty-two week high of $141.71.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CHR shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Cheer in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of 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 data from MarketBeat.com, the company currently has a consensus 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. 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.