Anghami Inc. (NASDAQ:ANGH) Shares Shorted: Short Interest Up 142.6% in October

Anghami Inc. (NASDAQ:ANGH) was the target of a significant growth in short interest in October. As of October 30th, there was short interest totaling 2,215 shares, a growth of 142.6% from the October 15th total of 913 shares. Based on an average daily volume of 22,718 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Anghami in a research note on Tuesday. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Anghami Stock Performance

NASDAQ ANGH traded up $0.12 on Friday, hitting $3.52. 375 shares of the company’s stock traded hands, compared to its average volume of 37,282. The firm’s 50-day moving average price is $3.54 and its two-hundred day moving average price is $3.46. Anghami has a 1-year low of $2.25 and a 1-year high of $7.89.

About Anghami

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.