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Thinking Of Investing In Connexa Sports Technologies Inc. (NASDAQ: CNXA) Stock? Read This First

Connexa Sports Technologies Inc. (NASDAQ:CNXA) shares, rose in value on Wednesday, 08/03/22, with the stock price up by 35.19% to the previous day’s close as strong demand from buyers drove the stock to $1.46.

Actively observing the price movement in the last trading, the stock closed the session at $1.08, falling within a range of $1.11 and $1.94. The value of beta (5-year monthly) was 2.55. Referring to stock’s 52-week performance, its high was $34.90, and the low was $0.77. On the whole, CNXA has fluctuated by 2.10% over the past month.

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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.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CNXA currently trading nearly 54.76% and -62.21% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.40, while the 7-day volatility ratio is showing 35.61% which for the 30-day chart, stands at 19.41%. Furthermore, Connexa Sports Technologies Inc. (CNXA)’s average true range (ATR) is 0.21.

Data on historical trading for Connexa Sports Technologies Inc. (NASDAQ:CNXA) indicates that the trading volumes over the past 10 days have averaged 0.29 million and over the past 3 months, they’ve averaged 90.99K. According to company’s latest data on outstanding shares, there are 41.87 million shares outstanding.

Nearly 39.79% of Connexa Sports Technologies Inc.’s shares belong to company insiders and institutional investors own 4.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13860.0 shares as on Jul 14, 2022, resulting in a short ratio of 0.12. According to the data, the short interest in Connexa Sports Technologies Inc. (CNXA) stood at 0.11% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 17370.0. The stock has fallen by -91.51% 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.

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