Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) Sees Significant Growth in Short Interest

Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 717,369 shares, a growth of 3,659.8% from the May 31st total of 19,080 shares. Based on an average trading volume of 98,628,252 shares, the short-interest ratio is presently 0.0 days. Currently, 54.5% of the company’s shares are sold short.

Paranovus Entertainment Technology Trading Down 12.7%

PAVS traded down $0.01 during mid-day trading on Friday, hitting $0.07. The stock had a trading volume of 20,464,586 shares, compared to its average volume of 71,533,392. The stock’s fifty day simple moving average is $0.93 and its 200-day simple moving average is $11.59. Paranovus Entertainment Technology has a 1-year low of $0.07 and a 1-year high of $1,488.00.

Paranovus Entertainment Technology’s stock is set to reverse split on Monday, June 29th. The 1-100 reverse split was announced on Thursday, June 25th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, June 26th.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PAVS. Wall Street Zen lowered Paranovus Entertainment Technology from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Paranovus Entertainment Technology in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Paranovus Entertainment Technology Company Profile

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.