Paranovus Entertainment Technology (NASDAQ:PAVS) Stock Falls 5.9% – Here’s Why

Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) traded down 5.9% during trading on Thursday. The company traded as low as $3.63 and last traded at $3.64. Approximately 25,138 shares traded hands during trading, an increase of 70% from the average daily volume of 14,790 shares. The stock had previously closed at $3.87.

Analysts Set New Price Targets

A number of analysts recently issued reports on PAVS shares. Weiss Ratings restated a “sell (d-)” rating on shares of Paranovus Entertainment Technology in a report on Friday, September 25th. Wall Street Zen cut shares of Paranovus Entertainment Technology from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Paranovus Entertainment Technology Price Performance

The business’s 50-day moving average price is $4.89 and its 200 day moving average price is $64.03.

Paranovus Entertainment Technology Company Profile

Paranovus Entertainment Technology Limited (NASDAQ: PAVS) is a holding company focused on entertainment technology and digital commerce. Based on its public company descriptions, its business activities have included online entertainment and e-commerce initiatives serving consumer markets in China.

The company has been associated with technology-enabled entertainment offerings and online retail activities, although publicly available information provides limited detail about its current products, platforms and operating segments.

Paranovus Entertainment Technology is incorporated in the Cayman Islands and has reported operations connected with China.