Anghami Inc. (NASDAQ:ANGH) Sees Significant Decline in Short Interest

Anghami Inc. (NASDAQ:ANGH) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 1,635 shares, a decline of 41.1% from the August 15th total of 2,775 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 30,836 shares, the short-interest ratio is presently 0.1 days.

Anghami Stock Down 0.0%

Shares of NASDAQ ANGH opened at $3.74 on Friday. Anghami has a 1 year low of $2.25 and a 1 year high of $7.89. The stock’s 50-day simple moving average is $3.45 and its 200-day simple moving average is $3.59.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Anghami from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

About Anghami

Anghami Inc operates a digital music and audio-entertainment platform serving listeners in the Middle East and North Africa and other markets worldwide. Its platform provides access to a broad catalog of Arabic and international music through mobile applications and web-based services.

Anghami offers both advertising-supported listening and subscription-based access through Anghami Plus. Its services include music streaming, personalized recommendations, curated playlists, podcasts and other audio content.