Cyngn Inc. Common Stock (NASDAQ:CYN) Announces Quarterly Earnings Results

Cyngn Inc. Common Stock (NASDAQ:CYN) announced its quarterly earnings data on Wednesday. The company reported ($0.45) earnings per share for the quarter, Zacks reports. Cyngn Inc. Common Stock had a negative net margin of 6,953.61% and a negative return on equity of 63.23%. The firm had revenue of $0.14 million for the quarter.

Cyngn Inc. Common Stock Stock Up 3.3%

Shares of CYN stock traded up $0.04 during trading hours on Friday, reaching $1.10. The stock had a trading volume of 69,747 shares, compared to its average volume of 1,636,045. The stock has a fifty day simple moving average of $1.21. Cyngn Inc. Common Stock has a 12 month low of $1.03 and a 12 month high of $6.82. The firm has a market capitalization of $15.86 million, a price-to-earnings ratio of -0.36 and a beta of 0.06.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CYN. Wall Street Zen lowered Cyngn Inc. Common Stock from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cyngn Inc. Common Stock in a report on Monday, July 6th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce”.

Cyngn Inc. Common Stock Company Profile

Cyngn Inc is an industrial autonomous vehicle technology company, focused on addressing industrial uses for autonomous vehicles. It develops full-stack autonomous driving software, DriveMod, which is integrated into vehicles manufactured by original equipment manufacturers during the assembly process. The company designs its software to be compatible with a range of sensors and hardware components and integrates it with its own systems to enable autonomous vehicle functionality.