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

Cheer Holding, Inc. (NASDAQ:CHR) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 72,712 shares, an increase of 116.2% from the April 30th total of 33,638 shares. Approximately 8.0% of the shares of the stock are sold short. Based on an average trading volume of 57,247 shares, the days-to-cover ratio is presently 1.3 days.

Cheer Stock Performance

NASDAQ:CHR traded down $0.03 during trading hours on Friday, hitting $2.07. The company’s stock had a trading volume of 69,593 shares, compared to its average volume of 103,864. Cheer has a twelve month low of $1.25 and a twelve month high of $313.50. The stock has a fifty day simple moving average of $1.99 and a 200-day simple moving average of $3.90.

Cheer (NASDAQ:CHR) last posted its quarterly earnings results on Friday, March 20th. The company reported ($14.14) earnings per share for the quarter, missing analysts’ consensus estimates of $345.00 by ($359.14). The firm had revenue of $38.92 million for the quarter, compared to the consensus estimate of $73.00 million.

Institutional Investors Weigh In On Cheer

A hedge fund recently bought a new stake in Cheer stock. Jane Street Group LLC bought a new position in Cheer Holding, Inc. (NASDAQ:CHR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned approximately 1.34% of Cheer as of its most recent SEC filing. Institutional investors and hedge funds own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cheer in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cheer currently has a consensus rating of “Sell”.

About Cheer

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.