This really wears its '80s-horror influence on its sleeve; the obvious examples being _Night of the Demons_ (1988), and _The Evil Dead_ (1981).
So, yeah, horror comedy. Low budget, but you can tell they squeezed every penny to make this. While the movie has a strong start, it just can't keep the story moving. I can't think of another film that moved so fast, yet felt to slow - like, how is that even possible?
I'll give an example of what I'm talking about: the movie begins with a flashback, then in the middle, it retells the same backstory all over again. What are you thinking? It's as if there were two writers and they failed to communicate what the other had added to the story.
What the movie does right is look very stylish; it's so neon '80s!
The only other highlights for me were our two Satanists, and our goth girl, Mo - she is equal parts Angela (from the aforementioned _Night of the Demons_), and Nancy from _The Craft_ (1996). If you have a hot goth girl in a movie, and I still don't like it, something is terribly wrong. The movie needed to be about Mo fighting demons, while the Satanists added complications.
Not a complete failure, but I would never rewatch this.
If you like low-budget horror comedy, give it a try.