The share price of Connexa Sports Technologies Inc. (NASDAQ:CNXA) rose to $0.19 per share on Wednesday from $0.19. While Connexa Sports Technologies Inc. has overperformed by 0.16%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CNXA fell by -99.15%, with highs and lows ranging from $22.50 to $0.18, whereas the simple moving average fell by -96.78% in the last 200 days.
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Analysis of Connexa Sports Technologies Inc. (CNXA)
Further, the quarter-over-quarter increase in sales is 2.40%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Connexa Sports Technologies Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 481.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and CNXA is recording an average volume of 684.91K. On a monthly basis, the volatility of the stock is set at 13.28%, whereas on a weekly basis, it is put at 9.80%, with a loss of -1.23% over the past seven days.
How Do You Analyze Connexa Sports Technologies Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 35.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 8.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CNXA shares?
The recent increase in stakes in CNXA appears to be a result of several institutional investors and hedge funds increasing their positions. The company now owns 1,018,510 shares of the stock, with a value of $0.26 million, following the purchase of 1,018,510 additional shares during the last quarter.
CNXA shares are owned by institutional investors to the tune of 8.70% at present.