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

Cyngn Inc. Common Stock (NASDAQ:CYN) released its quarterly earnings results on Wednesday. The company reported ($0.45) earnings per share for the quarter, Zacks reports. Cyngn Inc. Common Stock had a negative return on equity of 59.68% and a negative net margin of 9,413.00%.The company had revenue of $0.14 million during the quarter.

Cyngn Inc. Common Stock Trading Down 13.6%

CYN traded down $0.16 during trading on Thursday, hitting $1.04. The stock had a trading volume of 276,316 shares, compared to its average volume of 1,644,617. The stock has a 50 day simple moving average of $1.22. The company has a market capitalization of $15.02 million, a price-to-earnings ratio of -0.20 and a beta of 0.06. Cyngn Inc. Common Stock has a one year low of $1.03 and a one year high of $6.82.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Cyngn Inc. Common Stock in a research note on Monday, July 6th. Wall Street Zen lowered Cyngn Inc. Common Stock from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

About Cyngn Inc. Common Stock

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.