As of Friday close, Connexa Sports Technologies Inc.’s (NASDAQ:CNXA) stock was down -$0.03, moving down -15.59 percent to $0.13. The average number of shares traded per day over the past five days has been 112,256,500 shares. 2 times new highs have been achieved over the past 5 days, with a $0.0431 gain in that time frame. In the last twenty days, the average volume was 30,387,885, while in the previous 50 days, it was 14,058,720.
Since last month, CNXA stock rose 58.39%. Shares of the company fell to $0.0701 on 08/23/23, the lowest level in the past month. A 52-week high of $0.80 was reached on 01/26/23 after having rallying from a 52-week low of $0.06. Since the beginning of this year, CNXA’s stock price has dropped by -43.55% or -$0.1019, and marked a new high 5 times. However, the stock has declined by -83.49% since its 52-week high.
Financial Health
In the recent quarter, Connexa Sports Technologies Inc.’s quick ratio stood at 0.10, while its current ratio was 0.20, showing that the company is not able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 24.50% percent. Based on annual data, CNXA earned $2.78 million in gross profit and brought in $9.92 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -131.10%. Return on equity (ROE) for the past 12 months was -258.90%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CNXA’s revenue fell -160.87% to $3.95 million during the quarter, while net income inched up to $1.61 million. During the quarter, the company generated $2.89 million in EBITDA. The liabilities of Connexa Sports Technologies Inc. were 25.72 million at the end of its most recent quarter, and its total debt was $3.44 million. The value of shareholders’ equity is $24.15 million.
Technical Picture
This quick technical analysis looks at Connexa Sports Technologies Inc.’s (CNXA) price momentum. With a historical volatility rate of 569.26%, the RSI 9-day stood at 54.16% on 22 September.
With respect to its five-day moving average, the current Connexa Sports Technologies Inc. price is up by +48.43% percent or $0.0431. At present, CNXA shares trade +50.11% above its 20-day simple moving average and -11.34% percent below its 100-day simple moving average. However, the stock is currently trading approximately -23.91% below its SMA50 and -40.52% below its SMA200.
Stochastic coefficient K was 34.65% and Stochastic coefficient D was 37.90%, while ATR was 0.0484. Given the Stochastic reading of 30.28% for the 14-day period, the RSI (14) reading has been calculated as 53.54%. As of today, the MACD Oscillator reading stands at 0.0214, while the 14-day reading stands at 0.0312.
Analyst Ratings
Connexa Sports Technologies Inc. (CNXA) has been rated – by analysts. According to 0 brokerage firms, CNXA is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Connexa Sports Technologies Inc. stock as buy, with 0 recommending it as overweight.
