Anghami Inc (NASDAQ: ANGH): Forecast Strong In 2024, Up 2.86%

The trading price of Anghami Inc (NASDAQ:ANGH) closed lower on Tuesday, April 02, closing at $1.80, -7.69% lower than its previous close.

In examining the 52-week price action we see that the stock hit a 52-week high of $3.49 and a 52-week low of $0.63. Over the past month, the stock has gained 94.59% in value.

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Anghami Inc, whose market valuation is $49.77 million at the time of this writing. Investors’ optimism about the company’s current quarter earnings report is understandable.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Anghami Inc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest ANGH has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

A quick review shows that ANGH’s price is currently 35.29% off the SMA20 and 59.63% off the SMA50. The RSI metric on the 14-day chart is currently showing 64.84, and weekly volatility stands at 20.24%. When measured over the past 30 days, the indicator reaches 20.60%. Anghami Inc (NASDAQ:ANGH)’s beta value is currently sitting at 1.37, while the Average True Range indicator is currently displaying 0.27.

To see how Anghami Inc stock has been performing in comparison to its peers in the industry, here are the numbers: ANGH stock’s performance was -7.69% in the latest trading, and 2.86% in the past year.

An evaluation of the daily trading volume of Anghami Inc (NASDAQ:ANGH) indicates that the 3-month average is 301.07K. However, this figure has increased over the past 10 days to an average of 1.96 million.

Currently, records show that 27.65 million of the company’s shares remain outstanding. The insiders hold 57.71% of outstanding shares, whereas institutions hold 0.61%. The stats also highlight that short interest as of Mar 15, 2024, stood at 39610.0 shares, resulting in a short ratio of 1.12 at that time. From this, we can conclude that short interest is 0.14% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 34140.0. However, since the stock’s price has seen 73.08% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.