Connexa Sports Technologies Inc. (NASDAQ:YYAI) Short Interest Update

Key Points

• Connexa Sports Technologies Inc. (NASDAQ:YYAI) saw a significant increase in short interest, rising by 487.7% in July, with 925,600 shares sold short as of July 31st, representing 19.5% of the company's shares.
• Several institutional investors have recently adjusted their holdings, with Geode Capital Management increasing its stake by 7.2%, bringing their total ownership to 90,581 shares.
• The stock is currently trading at $4.11, reflecting a 5.3% decrease, and has a market capitalization of approximately $59.84 million.

Connexa Sports Technologies Inc. (NASDAQ:YYAI - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 925,600 shares, agrowthof487.7% from the July 15th total of 157,500 shares. Based on an average daily volume of 916,400 shares, the short-interest ratio is currently 1.0 days. Currently,19.5% of the shares of the stock are sold short. Currently,19.5% of the shares of the stock are sold short. Based on an average daily volume of 916,400 shares, the short-interest ratio is currently 1.0 days.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Connexa Sports Technologies to a "hold" rating in a report on Saturday.

Connexa Sports Technologies Stock Performance

NASDAQ:YYAI traded up $0.42 during trading hours on Tuesday, hitting $5.14. The stock had a trading volume of 176,650 shares, compared to its average volume of 1,749,545. The business's 50 day moving average is $2.06 and its 200-day moving average is $1.21. The company has a market cap of $74.81 million, a price-to-earnings ratio of -0.45 and a beta of -1.95. Connexa Sports Technologies has a one year low of $0.35 and a one year high of $10.30.

Institutional Trading of Connexa Sports Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in Connexa Sports Technologies during the 1st quarter worth $38,000. Private Advisor Group LLC bought a new stake in Connexa Sports Technologies during the first quarter worth about $32,000. Finally, Geode Capital Management LLC increased its holdings in Connexa Sports Technologies by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 90,581 shares of the company's stock valued at $81,000 after buying an additional 6,116 shares during the period. Institutional investors and hedge funds own 4.03% of the company's stock.

About Connexa Sports Technologies

Connexa Sports Technologies Inc engages in the sports equipment and technology business in the United States. The company offers Slinger Launcher, a portable padel tennis ball launcher and pickleball launcher; and Slinger Bag Launcher, a ball launcher built into transport wheeled trolley bag. It also provides Gameface, AI technology and performance analytics for sports.