Connexa Sports Technologies Inc. [CNXA] is -97.27% lower this YTD. Is it still time to buy?

Connexa Sports Technologies Inc. [NASDAQ: CNXA] gained 62.01% on the last trading session, reaching $0.47 price per share at the time. The company report on September 28, 2022 that CONNEXA Announces $5.0 Million Private Placement.


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Connexa Sports Technologies, Inc. (NASDAQ: CNXA) (“Connexa”), today announced that it has entered into a securities purchase agreement with a single institutional investor for the issuance and sale of 12,820,512 shares of its common stock (or common stock equivalents in lieu thereof), together with accompanying common stock warrants, at a combined purchase price of $0.39 per share (or common stock equivalents) and accompanying warrants in a private placement. The shares of common stock (or common stock equivalents) were sold in the offering together with 12,820,512 warrants to purchase 12,820,512 shares of common stock at an exercise price of $0.39 per share and a term of five years following the initial exercise date and 25,641,024 warrants to purchase 25,641,024 shares of common stock at an exercise price of $0.43 per share and a term of seven and one half years following the initial exercise date (collectively, the “Warrants”). The Warrants issued in this transaction contain variable pricing features. The Warrants will be exercisable beginning on the date stockholder approval is received and effective allowing exercisability of the Warrants under Nasdaq rules. The offering is expected to close on or about September 30, 2022, subject to the satisfaction of customary closing conditions.

The aggregate gross proceeds to Connexa from the private placement is expected to be approximately $5.0 million. Connexa intends to use the net proceeds from the offering for working capital purposes and to repurchase inventory.

Connexa Sports Technologies Inc. represents 12.66 million in outstanding shares, while the company has a total market value of $6.50 million with the latest information. CNXA stock price has been found in the range of $0.4305 to $0.80.

If compared to the average trading volume of 176.31K shares, CNXA reached a trading volume of 26759573 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Connexa Sports Technologies Inc. [CNXA]:

The Average True Range (ATR) for Connexa Sports Technologies Inc. is set at 0.13, with the Price to Sales ratio for CNXA stock in the period of the last 12 months amounting to 0.42.

Trading performance analysis for CNXA stock

Connexa Sports Technologies Inc. [CNXA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.51. With this latest performance, CNXA shares dropped by -49.20% in over the last four-week period, additionally sinking by -96.64% over the last 6 months – not to mention a drop of -98.46% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNXA stock in for the last two-week period is set at 39.60, with the RSI for the last a single of trading hit 46.50, and the three-weeks RSI is set at 38.05 for Connexa Sports Technologies Inc. [CNXA]. The present Moving Average for the last 50 days of trading for this stock 0.7950, while it was recorded at 0.3800 for the last single week of trading.

Connexa Sports Technologies Inc. [CNXA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Connexa Sports Technologies Inc. [CNXA] shares currently have an operating margin of -34.49 and a Gross Margin at +28.89. Connexa Sports Technologies Inc.’s Net Margin is presently recorded at -172.11.

Reflecting on the efficiency of the workforce at the company, Connexa Sports Technologies Inc. [CNXA] managed to generate an average of -$2,324,345 per employee. Receivables Turnover for the company is 28.34 with a Total Asset Turnover recorded at a value of 3.05.Connexa Sports Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.50.

An analysis of insider ownership at Connexa Sports Technologies Inc. [CNXA]

There are presently around $0 million, or 4.60% of CNXA stock, in the hands of institutional investors. The top three institutional holders of CNXA stocks are: ANSON FUNDS MANAGEMENT LP with ownership of 353,428, which is approximately New of the company’s market cap and around 39.79% of the total institutional ownership; WARBERG ASSET MANAGEMENT LLC, holding 179,515 shares of the stock with an approximate value of $84000.0 in CNXA stocks shares; and GLUSKIN SHEFF & ASSOC INC, currently with $24000.0 in CNXA stock with ownership of nearly New of the company’s market capitalization.

7 institutional holders increased their position in Connexa Sports Technologies Inc. [NASDAQ:CNXA] by around 583,846 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 583,846 shares, according to the latest SEC report filing. CNXA stock had 7 new institutional investments in for a total of 583,846 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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