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

Cheer Holding, Inc. (NASDAQ:CHR) was the target of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 93,311 shares, a decrease of 44.2% from the February 26th total of 167,128 shares. Based on an average trading volume of 67,535 shares, the days-to-cover ratio is presently 1.4 days. Currently, 3.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cheer stock. Jane Street Group LLC purchased a new stake in Cheer Holding, Inc. (NASDAQ:CHR) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 63,046 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned 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 Analysts Forecast Growth

Several equities analysts recently issued reports on CHR shares. Wall Street Zen upgraded Cheer to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings restated a “sell (d)” rating on shares of Cheer in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Cheer Trading Down 1.9%

Shares of Cheer stock opened at $0.82 on Friday. The firm has a fifty day moving average of $1.24 and a two-hundred day moving average of $6.53. Cheer has a 52 week low of $0.80 and a 52 week high of $104.50.

Cheer (NASDAQ:CHR) last announced its quarterly earnings results on Friday, March 20th. The company reported ($4.72) EPS for the quarter, missing analysts’ consensus estimates of $115.00 by ($119.72). The firm had revenue of $38.92 million during the quarter, compared to the consensus estimate of $73.00 million.

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.