Market cap of Connexa Sports Technologies Inc. [CNXA] reaches 2.11M – now what?

Connexa Sports Technologies Inc. [NASDAQ: CNXA] gained 3.54% or 0.01 points to close at $0.17 with a heavy trading volume of 14063107 shares. The company report on March 24, 2023 at 8:30 AM that Connexa Sports Technologies Inc. Announces Receipt of Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q.

On February 21, 2023, the Company had previously announced that it received a letter from the Nasdaq on February 14 2023, indicating that, due to the Company’s failure, in violation of Listing Rule 5250(c)(1), to file its (i) Annual Report on Form 10-K with respect to the fiscal year ended April 30, 2022 and (ii) Quarterly Reports on Form 10-Q for the periods ended July 31, 2022 and October 31, 2022 (collectively, the “Delinquent Filings”), by February 13, 2023 (the due date for filing the Delinquent Filings pursuant to an exception to Nasdaq’s Listing Rule previously granted by Nasdaq), absent the submission of a timely appeal by February 21, 2023, trading of the Company’s common stock would be suspended from The Nasdaq Capital Market at the opening of business on February 23, 2023. Nasdaq would also have filed a Form 25-NSE with the SEC, which would have resulted in the removal of the Company’s securities from listing and registration on The Nasdaq Stock Market (the “Staff Determination”).

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It opened the trading session at $0.163, the shares rose to $0.35 and dropped to $0.155, the range by which the price of stock traded the whole day. The daily chart for CNXA points out that the company has recorded -33.28% loss over the past six months. However, it is still -21.43% lower than its most recent low trading price.

If we look at the average trading volume of 835.39K shares, CNXA reached to a volume of 14063107 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 0.05, with the Price to Sales ratio for CNXA stock in the period of the last 12 months amounting to 0.14.

Trading performance analysis for CNXA stock

Connexa Sports Technologies Inc. [CNXA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.23. With this latest performance, CNXA shares gained by 8.31% in over the last four-week period, additionally sinking by -33.28% over the last 6 months – not to mention a drop of -98.72% 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 48.85, with the RSI for the last a single of trading hit 49.25, and the three-weeks RSI is set at 47.76 for Connexa Sports Technologies Inc. [CNXA]. The present Moving Average for the last 50 days of trading for this stock 0.1736, while it was recorded at 0.1744 for the last single week of trading, and 0.3979 for the last 200 days.

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.

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

There are presently around $0 million, or 8.73% of CNXA stock, in the hands of institutional investors. The top three institutional holders of CNXA stocks are: ARMISTICE CAPITAL, LLC with ownership of 1,018,510, which is approximately 0% of the company’s market cap and around 35.10% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 32,893 shares of the stock with an approximate value of $5000.0 in CNXA stocks shares; and GOLDMAN SACHS GROUP INC, currently with $4000.0 in CNXA stock with ownership of nearly New of the company’s market capitalization.

6 institutional holders increased their position in Connexa Sports Technologies Inc. [NASDAQ:CNXA] by around 86,548 shares. Additionally, 3 investors decreased positions by around 84,899 shares, while 3 investors held positions by with 933,767 shares. The mentioned changes placed institutional holdings at 1,105,214 shares, according to the latest SEC report filing. CNXA stock had 5 new institutional investments in for a total of 86,547 shares, while 3 institutional investors sold positions of 84,899 shares during the same period.


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