Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) Short Interest Update

Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 550,754 shares, a growth of 50.7% from the February 26th total of 365,505 shares. Approximately 97.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 890,312 shares, the days-to-cover ratio is presently 0.6 days.

Paranovus Entertainment Technology Stock Performance

NASDAQ:PAVS traded down $0.05 during mid-day trading on Friday, hitting $0.20. 4,237,263 shares of the stock traded hands, compared to its average volume of 31,439,382. Paranovus Entertainment Technology has a 52 week low of $0.19 and a 52 week high of $140.00. The firm’s 50 day moving average is $1.20 and its two-hundred day moving average is $32.52.

Shares of Paranovus Entertainment Technology are scheduled to reverse split before the market opens on Tuesday, March 31st. The 1-12 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, March 30th.

Analysts Set New Price Targets

PAVS has been the topic of several analyst reports. Wall Street Zen cut Paranovus Entertainment Technology from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paranovus Entertainment Technology in a research note on Wednesday, December 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

About Paranovus Entertainment Technology

Paranovus Entertainment Technology, Inc (NASDAQ: PAVS) is a development‐stage technology company specializing in digital media solutions for the casino gaming, hospitality and entertainment sectors. The company’s core business revolves around the design, development and deployment of interactive software and hardware platforms that enhance guest engagement, streamline operations and deliver targeted advertising in high‐traffic venues.

Central to Paranovus’ offerings is its PAVS platform, an integrated system that supports virtual‐reality experiences, digital signage, social media kiosks and interactive gaming modules.