Cyngn Inc. Common Stock (NASDAQ:CYN – Get Free Report) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 378,736 shares, a drop of 38.2% from the September 30th total of 613,297 shares. Based on an average daily volume of 208,701 shares, the days-to-cover ratio is currently 1.8 days. Approximately 2.5% of the shares of the company are short sold.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cyngn Inc. Common Stock in a research note on Friday, October 2nd. Wall Street Zen raised shares of Cyngn Inc. Common Stock from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cyngn Inc. Common Stock currently has an average rating of “Reduce”.
Check Out Our Latest Stock Report on CYN
Cyngn Inc. Common Stock Price Performance
NASDAQ:CYN opened at $0.33 on Tuesday. The firm has a market cap of $5.01 million, a PE ratio of -0.11 and a beta of 0.09. The firm has a 50 day simple moving average of $0.68 and a 200-day simple moving average of $1.11. Cyngn Inc. Common Stock has a 1-year low of $0.33 and a 1-year high of $4.76.
Cyngn Inc. Common Stock (NASDAQ:CYN – Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.45) EPS for the quarter. Cyngn Inc. Common Stock had a negative net margin of 6,953.61% and a negative return on equity of 62.53%. The business had revenue of $0.14 million during the quarter.
Cyngn Inc. Common Stock Company Profile
Cyngn Inc develops autonomous vehicle technology for industrial and commercial applications. The company’s platform is designed to help businesses automate material handling and transportation tasks in environments such as warehouses, manufacturing facilities, distribution centers and other controlled work sites.
Its principal offering, DriveMod, is an autonomous driving software platform intended for integration with industrial vehicles, including trucks and other material-handling equipment.
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