Short Interest in AiRWA Inc. (NASDAQ:YYAI) Decreases By 30.1%

AiRWA Inc. (NASDAQ:YYAI) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 1,602,950 shares, a decline of 30.1% from the February 26th total of 2,291,862 shares. Based on an average daily volume of 584,399 shares, the days-to-cover ratio is currently 2.7 days. Currently, 19.1% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research firms recently weighed in on YYAI. Wall Street Zen lowered shares of AiRWA from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of AiRWA in a research note on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

AiRWA Price Performance

NASDAQ:YYAI opened at $0.86 on Friday. AiRWA has a 12 month low of $0.77 and a 12 month high of $264.42. The firm has a market capitalization of $16.32 million, a PE ratio of 0.30 and a beta of -1.88. The business’s fifty day moving average price is $1.07 and its 200 day moving average price is $16.19.

AiRWA (NASDAQ:YYAI) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $6.97 million for the quarter. AiRWA had a negative return on equity of 0.40% and a negative net margin of 6.12%.

Insiders Place Their Bets

In related news, Director Hongyu Zhou purchased 4,215,000 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were bought at an average price of $1.37 per share, for a total transaction of $5,774,550.00. Following the acquisition, the director directly owned 5,816,489 shares in the company, valued at $7,968,589.93. This trade represents a 263.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 5,653,937 shares of company stock worth $7,635,950. 55.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AiRWA

Several institutional investors have recently added to or reduced their stakes in YYAI. Jane Street Group LLC increased its stake in AiRWA by 47.7% in the fourth quarter. Jane Street Group LLC now owns 71,054 shares of the company’s stock valued at $55,000 after purchasing an additional 22,951 shares during the last quarter. Geode Capital Management LLC raised its holdings in AiRWA by 136.7% during the fourth quarter. Geode Capital Management LLC now owns 176,626 shares of the company’s stock worth $138,000 after purchasing an additional 101,999 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in shares of AiRWA by 12.5% during the 2nd quarter. XTX Topco Ltd now owns 50,761 shares of the company’s stock worth $45,000 after buying an additional 5,630 shares during the last quarter. Hedge funds and other institutional investors own 4.03% of the company’s stock.

AiRWA Company Profile

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. Connexa Sports Technologies Inc is based in Windsor Mill, Maryland.