AiRWA (NASDAQ:YYAI) Trading Down 9% – Here’s Why

AiRWA Inc. (NASDAQ:YYAI) was down 9% during mid-day trading on Wednesday . The stock traded as low as $2.19 and last traded at $2.52. Approximately 6,380,595 shares changed hands during trading, an increase of 6% from the average daily volume of 6,045,820 shares. The stock had previously closed at $2.77.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of AiRWA to a “hold” rating in a research report on Saturday, August 16th.

AiRWA Trading Down 9.0%

The company has a market capitalization of $733,320.00, a PE ratio of -15.75 and a beta of -2.05. The stock’s 50-day moving average is $86.03 and its two-hundred day moving average is $81.50.

AiRWA (NASDAQ:YYAI) last posted its quarterly earnings data on Wednesday, December 22nd. The company reported ($1.50) earnings per share for the quarter. AiRWA had a return on equity of 15.61% and a net margin of 23.04%.The firm had revenue of $5.40 million during the quarter.

Insiders Place Their Bets

In other news, major shareholder Michael Anthony Belfiore acquired 63,858 shares of AiRWA stock in a transaction that occurred on Wednesday, October 8th. The shares were bought at an average cost of $16.00 per share, with a total value of $1,021,728.00. Following the transaction, the insider directly owned 63,858 shares of the company’s stock, valued at $1,021,728. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 55.80% of the stock is owned by company insiders.

Institutional Trading of AiRWA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd raised its position in AiRWA by 12.5% in the 2nd quarter. XTX Topco Ltd now owns 50,761 shares of the company’s stock worth $45,000 after purchasing an additional 5,630 shares during the period. Geode Capital Management LLC grew its stake in AiRWA by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 90,581 shares of the company’s stock worth $81,000 after acquiring an additional 6,116 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in AiRWA in the 1st quarter worth about $32,000. 4.03% of the stock is owned by hedge funds and other institutional investors.

About AiRWA

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.