A significant driver of top-line growth: Connexa Sports Technologies Inc. (CNXA)

Connexa Sports Technologies Inc. (NASDAQ: CNXA) stock jumped 10.70% on Wednesday to $0.23 against a previous-day closing price of $0.21. With 0.34 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.72 million shares. During the session, the Leisure company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.2396 whereas the lowest price it dropped to was $0.1958. The 52-week range on CNXA shows that it touched its highest point at $12.30 and its lowest point at $0.14 during that stretch.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CNXA was up-trending over the past week, with a rise of 14.79%, but this was up by 42.51% over a month. Three-month performance surged to 63.99% while six-month performance rose 18.65%. The stock lost -97.70% in the past year, while it has lost -1.89% so far this year.

Float and Shares Shorts:

At present, 12.66 million CNXA shares are outstanding with a float of 7.51 million shares on hand for trading. On May 14, 2023, short shares totaled 0.25 million, which was 1.75% higher than short shares on Apr 13, 2023. In addition to Mr. Mike Ballardie as the firm’s Chairman, CEO, Principal Financial Officer, Principal Accounting Officer. Pres & Treasurer, Mr. Tom Dye serves as its Chief Operating Officer.

Institutional Ownership:

Through their ownership of 8.73% of CNXA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 10.77% of CNXA, in contrast to — held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CNXA with 10.17% of the stake, Armistice Capital LLC holds 1,292,418 shares worth 1,292,418. A second-largest stockholder of CNXA, Virtu Financial BD LLC, holds 56,831 shares, controlling over 0.45% of the firm’s shares. Two Sigma Securities LLC is the third largest shareholder in CNXA, holding 30,059 shares or 0.24% stake.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jan 30, 2022, CNXA reported revenue of $4.69M and operating income of -$2.57M. Over the past year, revenue came in at $16.83M while operating income stood at -$51.93M. It generated -$7.14M net income for the quarter, which came to -$51.77M over the last twelve months. EBITDA for the full year was -$48.81M.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CNXA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded CNXA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 166,200 while 115,090 shares were sold.

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