Analysts Issue Research Notes On Connexa Sports Technologies Inc. (CNXA)

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Connexa Sports Technologies Inc. (NASDAQ:CNXA) traded with a subtraction of $0.0 to close at $0.24 on Thursday, a downside of -1.73 percent. An average of 982,481 shares of common stock have been traded in the last five days. There was a gain of $0.0130 in the past week. The last 20 days have seen an average of 2,005,080 shares traded, while the 50-day average volume stands at 918,468.

CNXA stock has decreased by -2.68% in the last month. The company shares reached their 1-month lowest point of $0.1610 on 12/09/22. Shares of the company touched a low of $0.16 and a high of $21.40 in 52 weeks. In spite of this, the price is down -98.88% from the 52-week high.

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Insider Transactions

CNXA stock investors should be aware that Connexa Sports Technologies Inc. (CNXA) stock had its last reported insider trading activity 112 days ago on Sep 08. In this transaction, the insider spent $3,968. 10% Owner, BitNile Holdings, Inc., disposed of 70,100 shares at a price of $0.88 on Sep 07. The insider now owns more than $61,723 worth of shares. Prior to that, 10% Owner BitNile Holdings, Inc. went on to Sale 39,990 shares at $1.00 each on Aug 25. An amount of $40,082 was transacted.

Financial Health

The quick ratio of Connexa Sports Technologies Inc. for the recent quarter was 0.20, and the current ratio was 0.50, indicating that the company is not able to meet its debt obligations. Connexa Sports Technologies Inc.’s EBITDA margin is -34.47%. Its gross profit as reported stood at $3.12 million compared to revenue of $10.8 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Connexa Sports Technologies Inc.’s return on assets was -441.60%.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Connexa Sports Technologies Inc. (CNXA) price momentum. RSI 9-day as of the close on 28 December was 49.28%, suggesting the stock is Neutral, with historical volatility in this time frame at 168.85%.

As of today, CNXA’s price is $0.2446 +6.25% or $0.0130 from its 5-day moving average. CNXA is currently trading -3.91% lower than its 20-day SMA and -77.89% lower than its 100-day SMA. However, the stock’s current price level is -18.36% below the SMA50.

The stochastic %K and %D were 19.03% and 20.82%, respectively, and the average true range (ATR) was 0.0640. With the 14-day stochastic at 14.83% and the average true range at 0.0619, the RSI (14) stands at 49.06%. The stock has reached 0.0133 on the 9-day MACD Oscillator while the 14-day reading was at 0.0183.

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