Anghami (NASDAQ:ANGH) Trading Down 2.6% – Time to Sell?

Anghami Inc. (NASDAQ:ANGH) dropped 2.6% during trading on Thursday . The company traded as low as $5.65 and last traded at $5.7460. Approximately 6,163 shares changed hands during trading, a decline of 73% from the average daily volume of 22,971 shares. The stock had previously closed at $5.90.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Anghami from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Anghami has an average rating of “Sell”.

Anghami Stock Down 2.6%

The business’s fifty day moving average price is $3.82 and its two-hundred day moving average price is $3.26.

Anghami (NASDAQ:ANGH) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($3.83) EPS for the quarter. The company had revenue of $25.43 million for the quarter.

About Anghami

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.