Anghami Inc. (NASDAQ:ANGH) Shares Shorted: Short Interest Down 47.1% in October

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 volume of 5,545 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are sold short.

Anghami Stock Down 0.7%

Anghami stock traded down $0.03 during trading on Monday, reaching $3.40. The stock had a trading volume of 443 shares, compared to its average volume of 38,397. Anghami has a 52-week low of $2.25 and a 52-week high of $7.89. The business has a 50 day moving average price of $3.53 and a 200 day moving average price of $3.44.

Analyst Upgrades and Downgrades

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

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.