Short Interest in Cheer Holding, Inc. (NASDAQ:CHR) Declines By 58.6%

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 131,700 shares, a decline of 58.6% from the September 15th total of 318,400 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 9,860,000 shares, the short-interest ratio is currently 0.0 days. Based on an average trading volume of 9,860,000 shares, the short-interest ratio is currently 0.0 days. Currently, 1.3% of the shares of the company are sold short.

Cheer Price Performance

NASDAQ CHR opened at $0.12 on Monday. The company’s 50 day moving average is $0.73 and its 200-day moving average is $1.19. Cheer has a 12-month low of $0.12 and a 12-month high of $3.45.

Institutional Trading of Cheer

An institutional investor recently raised its position in Cheer stock. Shah Capital Management grew its holdings in Cheer Holding, Inc. (NASDAQ:CHR) by 5.6% during the 1st 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 purchasing an additional 90,129 shares during the period. Cheer makes up about 0.5% of Shah Capital Management’s holdings, making the stock its 15th biggest position. Shah Capital Management owned about 14.65% of Cheer worth $2,268,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 18.54% of the company’s stock.

Analysts Set New Price Targets

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