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Why Connexa Sports Technologies Inc. (NASDAQ: CNXA) Stock Shouldn’t Be Sold In 2023

In the latest trading session, 218.58 million Connexa Sports Technologies Inc. (NASDAQ:CNXA) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $0.21 changing hands around $0.13 or 177.28% at last look, the market valuation stands at $5.42M. CNXA’s current price is a discount, trading about -280.95% off its 52-week high of $0.80. The share price had its 52-week low at $0.06, which suggests the last value was 71.43% up since then. When we look at Connexa Sports Technologies Inc.’s average trading volume, we note the 10-day average is 5.28 million shares, with the 3-month average coming to 2.61 million.

Connexa Sports Technologies Inc. (NASDAQ:CNXA) trade information

Instantly CNXA is in green as seen in intraday trades today. With action 133.22%, the performance over the past five days has been green. The jump to weekly highs of 0.2100 on Monday, 09/18/23 added 177.28% to the stock’s daily price. The company’s shares are showing year-to-date downside of -10.30%, with the 5-day performance at 133.22% in the green. However, in the 30-day time frame, Connexa Sports Technologies Inc. (NASDAQ:CNXA) is 85.42% up. Looking at the short shares, we see there were 0.62 million shares sold at short interest cover period of 0.16 days.

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Connexa Sports Technologies Inc. (CNXA) estimates and forecasts

The 2023 estimates are for Connexa Sports Technologies Inc. earnings to decrease by -93.40%.

CNXA Dividends

Connexa Sports Technologies Inc. is expected to release its next quarterly earnings report in October.

Connexa Sports Technologies Inc. (NASDAQ:CNXA)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 30.47% of Connexa Sports Technologies Inc. shares while 5.93% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 8.53%. There are 5.93% institutions holding the Connexa Sports Technologies Inc. stock share, with Armistice Capital, LLC the top institutional holder. As of Jun 29, 2023, the company held 2.43% of the shares, roughly 1.02 million CNXA shares worth $0.23 million.

Renaissance Technologies, LLC holds the second largest percentage of outstanding shares, with 0.17% or 71100.0 shares worth $15713.0 as of Jun 29, 2023.

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