Anghami Inc. (NASDAQ:ANGH) Sees Large Drop in Short Interest

Anghami Inc. (NASDAQ:ANGH) was the recipient of a large drop in short interest in January. As of January 30th, there was short interest totaling 17,390 shares, a drop of 56.8% from the January 15th total of 40,238 shares. Based on an average daily volume of 30,342 shares, the short-interest ratio is currently 0.6 days. Approximately 0.4% of the shares of the stock are sold short. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 30,342 shares, the short-interest ratio is currently 0.6 days.

Anghami Price Performance

NASDAQ:ANGH opened at $2.38 on Thursday. Anghami has a 1-year low of $2.25 and a 1-year high of $7.60. The firm has a 50 day simple moving average of $2.95 and a 200-day simple moving average of $3.07.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Anghami in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Anghami Company Profile

Anghami is a leading digital entertainment company that operates a music streaming platform tailored to audiences in the Middle East and North Africa (MENA) region. Headquartered in Beirut, Lebanon, the company provides both an ad-supported free tier and a premium subscription service that unlocks features such as offline listening, high-quality audio, and ad-free playback. Through partnerships with major international and regional record labels, Anghami offers a catalog that blends Arabic content with global hits, positioning itself as a cultural bridge for music fans across diverse markets.

The company was founded in 2012 by Eddy Maroun and Elie Habib, who recognized a gap in the digital music landscape of the Arab world.