Connexa Sports Technologies Inc. [NASDAQ: CNXA] slipped around -0.01 points on Friday, while shares priced at $0.09 at the close of the session, down -11.88%. The company report on August 8, 2023 at 11:44 AM that Connexa Sports Technologies Inc. Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 10-K.
As previously disclosed, on July 26, 2023, the Company received a letter from the Listing Qualifications Department of Nasdaq indicating that the Company’s stockholders’ equity as reported in its Quarterly Report on Form 10-Q for the quarterly period ended January 31, 2023 did not satisfy the continued listing requirement under Nasdaq Listing Rule 5550(b)(1), which requires that a listed company’s stockholders’ equity be at least $2.5 million (the “Minimum Stockholders’ Equity Requirement”). The Company timely submitted a compliance plan to the Panel and is awaiting a decision by the Panel regarding the Company’s plan. On October 10, 2022, the Listing Qualifications Department of Nasdaq notified the Company that the bid price of its shares of common stock had closed at less than $1 per share over the previous consecutive business days and, as a result, the company did not comply with Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The Panel previously granted the Company’s requested extension until October 9, 2023 to regain compliance with the Minimum Bid Price Requirement.
Connexa Sports Technologies Inc. stock is now -61.97% down from its year-to-date (YTD) trading value. CNXA Stock saw the intraday high of $0.1185 and lowest of $0.0806 per share. The company’s 52-week high price is 0.80, which means current price is +41.27% above from all time high which was touched on 01/26/23.
Compared to the average trading volume of 2.08M shares, CNXA reached a trading volume of 22994494 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Connexa Sports Technologies Inc. [CNXA]?
The Average True Range (ATR) for Connexa Sports Technologies Inc. is set at 0.02, with the Price to Sales ratio for CNXA stock in the period of the last 12 months amounting to 0.19.
How has CNXA stock performed recently?
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 -3.26. With this latest performance, CNXA shares dropped by -27.64% in over the last four-week period, additionally sinking by -44.37% over the last 6 months – not to mention a drop of -87.27% 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 39.81, with the RSI for the last a single of trading hit 40.20, and the three-weeks RSI is set at 40.07 for Connexa Sports Technologies Inc. [CNXA]. The present Moving Average for the last 50 days of trading for this stock 0.1227, while it was recorded at 0.0944 for the last single week of trading, and 0.1833 for the last 200 days.
Connexa Sports Technologies Inc. [CNXA]: Deeper insight into the fundamentals
Connexa Sports Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.20.
Insider trade positions for Connexa Sports Technologies Inc. [CNXA]
The top three institutional holders of CNXA stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in CNXA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in CNXA stock with ownership which is approximately 5.7381%.