Anghami Inc. (NASDAQ: ANGH) is poised for a significant corporate action as its shares are scheduled for a 1-for-10 reverse stock split on Monday, August 4th, an event closely watched by investors.
This strategic reverse split, publicly announced on Tuesday, July 29th, aims to consolidate the company’s outstanding shares. The adjustment in the number of shares held by existing shareholders will officially take effect after the closing bell on Friday, August 1st.
Shareholders should note that while the number of shares they own will decrease proportionally, the total value of their investment is intended to remain the same immediately after the split, with the price per share increasing by a factor of ten. This move often seeks to boost the per-share price, potentially to meet exchange listing requirements or improve market perception for Anghami Stock.
Prior to this announcement, Anghami stock opened at $0.41 on Thursday, reflecting its recent trading patterns. The company has navigated a challenging period, recording a fifty-two week low of $0.40 and a fifty-two week high of $0.98, illustrating its volatility in the market and its broader market performance.
Analyzing the stock’s performance, Anghami has a 50-day moving average of $0.51 and a 200-day moving average of $0.60, providing key technical indicators for investors. These averages often signal short-term and long-term price trends and can influence investment decisions related to the NASDAQ ANGH listing.
From a financial health perspective, Anghami reports a quick ratio of 0.60, a current ratio of 0.60, and a debt-to-equity ratio of 0.21. These metrics offer insights into the company’s liquidity and leverage, crucial for assessing its financial stability amidst such significant corporate actions like a stock reverse split.
Notably, institutional investors have been adjusting their positions in Anghami, with Geode Capital Management LLC recently increasing its stake. According to its latest 13F filing with the Securities and Exchange Commission (SEC), Geode Capital Management LLC boosted its holding by 70.9% in the fourth quarter, forming part of broader investment news.
Geode Capital Management LLC now holds 36,499 shares of Anghami Inc., having acquired an additional 15,145 shares during the reporting period. This increased ownership, valued at $29,000 as per their most recent SEC filing, represents 0.12% of Anghami, underscoring institutional confidence in the company’s future despite recent market fluctuations and the upcoming shareholder update related to the reverse split.
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