Cheer Holding, Inc. (NASDAQ:CHR) Short Interest Up 116.2% in May

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

Cheer Price Performance

NASDAQ CHR traded up $0.21 on Tuesday, reaching $2.80. The company’s stock had a trading volume of 443,828 shares, compared to its average volume of 106,516. Cheer has a twelve month low of $1.25 and a twelve month high of $313.50. The firm’s 50 day moving average is $1.99 and its two-hundred day moving average is $3.84.

Cheer (NASDAQ:CHR) last issued 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 business had revenue of $38.92 million for the quarter, compared to the consensus estimate of $73.00 million.

Institutional Trading of Cheer

A hedge fund recently bought a new stake in Cheer stock. Jane Street Group LLC acquired a new position in shares of Cheer Holding, Inc. (NASDAQ:CHR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned 1.34% of Cheer at the end of the most recent quarter. Institutional investors and hedge funds own 18.54% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Cheer in a report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Cheer presently has an average 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.