Short Interest in Anghami Inc. (NASDAQ:ANGH) Decreases By 67.0%

Anghami Inc. (NASDAQ:ANGH) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 2,775 shares, a drop of 67.0% from the July 30th total of 8,420 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 43,377 shares, the days-to-cover ratio is presently 0.1 days.

Anghami Stock Performance

Anghami stock remained flat at $3.54 during mid-day trading on Friday. 96,534 shares of the company traded hands, compared to its average volume of 32,258. Anghami has a one year low of $2.25 and a one year high of $7.89. The company has a 50 day moving average of $3.62 and a 200 day moving average of $3.49.

Analysts Set New Price Targets

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

Anghami Company Profile

Anghami is a leading digital entertainment company that operates a music streaming platform tailored to audiences in the Middle East and North Africa (MENA) region. Headquartered in Beirut, Lebanon, the company provides both an ad-supported free tier and a premium subscription service that unlocks features such as offline listening, high-quality audio, and ad-free playback. Through partnerships with major international and regional record labels, Anghami offers a catalog that blends Arabic content with global hits, positioning itself as a cultural bridge for music fans across diverse markets.

The company was founded in 2012 by Eddy Maroun and Elie Habib, who recognized a gap in the digital music landscape of the Arab world.