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

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

Wall Street Analyst Weigh In

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

Anghami Stock Performance

Shares of NASDAQ ANGH traded up $0.05 during mid-day trading on Friday, reaching $3.42. 15,167 shares of the company’s stock were exchanged, compared to its average volume of 15,026. The company’s 50-day moving average is $3.53 and its 200-day moving average is $3.44. Anghami has a 52-week low of $2.25 and a 52-week 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.

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.