why Anghami Inc [ANGH] is a Good Choice for Investors After New Price Target of $17.00

Anghami Inc [NASDAQ: ANGH] jumped around 0.59 points on Wednesday, while shares priced at $1.59 at the close of the session, up 59.00%. The company report on March 12, 2024 at 9:53 AM that Anghami and Rotana Renew Partnership and Expand Scope of Collaborations.

Anghami Inc. (NASDAQ: ANGH), the leading music and entertainment audio platform in the MENA region, and Rotana Music, the Arab world’s leading independent record label and largest repertoire owner of Arabic music, media, entertainment, events, and content producer and distributor in the MENA and GCC regions, have announced the expansion of their strategic partnership to include various content and concert collaborations.

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The renewed agreement marks a significant milestone in the ongoing collaboration between the two entities, building upon the initial reunion and partnership established in 2012. This commitment paves the way for an expanded array of releases and collaborations across various content over the next three years.

Compared to the average trading volume of 39.91K shares, ANGH reached a trading volume of 11351472 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Anghami Inc [ANGH]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ANGH shares is $17.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ANGH stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Anghami Inc is set at 0.16, with the Price to Sales ratio for ANGH stock in the period of the last 12 months amounting to 0.95. Price to Free Cash Flow for ANGH in the course of the last twelve months was 4.50 with Quick ratio for the last quarter at 0.40.

How has ANGH stock performed recently?

Anghami Inc [ANGH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 59.83. With this latest performance, ANGH shares gained by 69.15% in over the last four-week period, additionally plugging by 80.70% over the last 6 months – not to mention a drop of -11.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ANGH stock in for the last two-week period is set at 76.78, with the RSI for the last a single of trading hit 80.70, and the three-weeks RSI is set at 71.62 for Anghami Inc [ANGH]. The present Moving Average for the last 50 days of trading for this stock 1.0170, while it was recorded at 1.1656 for the last single week of trading, and 1.0762 for the last 200 days.

Anghami Inc [ANGH]: Deeper insight into the fundamentals

Anghami Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

Insider trade positions for Anghami Inc [ANGH]

The top three institutional holders of ANGH stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ANGH stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ANGH stock with ownership which is approximately 5.8325%.