Connexa Sports Technologies Inc (NASDAQ:CNXA) shares, rose in value, with the stock price up by 16.28% to the previous day’s close as strong demand from buyers drove the stock to $0.27.
Actively observing the price movement in the last trading, the stock closed the session at $0.23. Referring to stock’s 52-week performance, its high was $14.00, and the low was $0.14. On the whole, CNXA has fluctuated by 16.08% over the past month.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CNXA’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CNXA currently trading nearly 14.65% and 5.21% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 56.59, while the 7-day volatility ratio is showing 17.18% which for the 30-day chart, stands at 15.16%. Furthermore, Connexa Sports Technologies Inc (CNXA)’s average true range (ATR) is 0.04.
A comparison of Connexa Sports Technologies Inc (CNXA) with its peers suggests the former has fared considerably weaker in the market. CNXA showed an intraday change of 16.28% in last session, and over the past year, it shrunk by -95.36%%.
Data on historical trading for Connexa Sports Technologies Inc (NASDAQ:CNXA) indicates that the trading volumes over the past 10 days have averaged 1.67 million and over the past 3 months, they’ve averaged 9.11 million. According to company’s latest data on outstanding shares, there are 22.17 million shares outstanding.
Nearly 9.40% of Connexa Sports Technologies Inc’s shares belong to company insiders and institutional investors own 3.02% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 35270.0 shares as on Mar 15, 2024, resulting in a short ratio of 0.01. According to the data, the short interest in Connexa Sports Technologies Inc (CNXA) stood at 0.13% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.62 million. The stock has risen by 32.81% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CNXA stock heading into the next quarter.
