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

Anghami Inc. (NASDAQ:ANGH) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 913 shares, a decline of 47.1% from the September 30th total of 1,725 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 5,545 shares, the short-interest ratio is currently 0.2 days.

Anghami Price Performance

Shares of ANGH stock traded up $0.05 on Friday, hitting $3.42. The stock had a trading volume of 15,167 shares, compared to its average volume of 15,026. Anghami has a 1 year low of $2.25 and a 1 year high of $7.89. The company’s 50 day moving average price is $3.53 and its 200-day moving average price is $3.44.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Anghami from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, Anghami has a consensus rating of “Sell”.

Anghami Company Profile

Anghami Inc is a music and audio streaming company serving listeners in the Middle East and North Africa. Its platform provides access to a large catalog of Arabic and international music, along with podcasts and other audio content, through mobile applications and web-based services.

The company offers both advertising-supported access and paid subscription plans, which may include features such as ad-free listening, offline playback and higher-quality audio. Anghami also works with music labels, artists and other content owners to distribute licensed content and support music discovery across its platform.

Anghami was founded in 2012 by Eddy Maroun and Elie Habib and launched in Lebanon before expanding across the broader MENA region and serving users internationally.