Paranovus Entertainment Technology (NASDAQ:PAVS) Stock Jumps 18.2% – Here’s Why

Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) shares shot up 18.2% during mid-day trading on Friday. The stock traded as high as $4.18 and last traded at $3.45. Approximately 650,194 shares were traded during trading, an increase of 4,739% from the average session volume of 13,437 shares. The stock had previously closed at $2.92.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings cut shares of Paranovus Entertainment Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. Wall Street Zen lowered Paranovus Entertainment Technology from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Paranovus Entertainment Technology Price Performance

The stock’s 50 day moving average is $3.99 and its two-hundred day moving average is $423.86.

Paranovus Entertainment Technology Company Profile

Paranovus Entertainment Technology Limited is a technology and consumer-services company focused on online entertainment and e-commerce activities. The company operates through subsidiaries and digital platforms that support the distribution of entertainment-related content and the online sale of consumer products.

Its business activities have been associated primarily with the Chinese market, where it serves consumers through internet-based platforms. Publicly available information about the company’s specific products, brands and operating segments is limited.

Paranovus Entertainment Technology is organized as a holding company, with its operating activities conducted through subsidiaries.