Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) Sees Large Drop in Short Interest

Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 68,864 shares, a drop of 90.4% from the June 15th total of 717,369 shares. Based on an average trading volume of 1,046,434 shares, the short-interest ratio is currently 0.1 days. Approximately 491.9% of the company’s shares are sold short.

Paranovus Entertainment Technology Stock Performance

PAVS stock traded up $0.02 during trading on Friday, reaching $5.75. The stock had a trading volume of 44,250 shares, compared to its average volume of 180,118. Paranovus Entertainment Technology has a 1-year low of $5.36 and a 1-year high of $148,800.00. The firm has a fifty day moving average price of $67.92 and a 200 day moving average price of $886.87.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PAVS shares. Wall Street Zen downgraded Paranovus Entertainment Technology from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings upgraded Paranovus Entertainment Technology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Paranovus Entertainment Technology has a consensus rating of “Sell”.

About Paranovus Entertainment Technology

Paranovus Entertainment Technology, Inc (NASDAQ: PAVS) is a development?stage technology company specializing in digital media solutions for the casino gaming, hospitality and entertainment sectors. The company’s core business revolves around the design, development and deployment of interactive software and hardware platforms that enhance guest engagement, streamline operations and deliver targeted advertising in high?traffic venues.

Central to Paranovus’ offerings is its PAVS platform, an integrated system that supports virtual?reality experiences, digital signage, social media kiosks and interactive gaming modules.