Cyngn Inc. Common Stock (NASDAQ:CYN) Short Interest Update

Cyngn Inc. Common Stock (NASDAQ:CYN) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 717,481 shares, a decrease of 48.4% from the July 30th total of 1,391,675 shares. Based on an average daily trading volume, of 199,702 shares, the short-interest ratio is presently 3.6 days. Currently, 5.0% of the company’s shares are short sold.

Institutional Trading of Cyngn Inc. Common Stock

An institutional investor recently bought a new stake in Cyngn Inc. Common Stock stock. Foster & Motley Inc. purchased a new position in Cyngn Inc. Common Stock (NASDAQ:CYN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,919 shares of the company’s stock, valued at approximately $175,000. Foster & Motley Inc. owned about 0.09% of Cyngn Inc. Common Stock at the end of the most recent quarter. 73.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Cyngn Inc. Common Stock Trading Down 5.5%

Shares of NASDAQ CYN traded down $0.06 during midday trading on Friday, hitting $1.04. The company’s stock had a trading volume of 91,803 shares, compared to its average volume of 163,590. 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 $15.00 million, a price-to-earnings ratio of -0.34 and a beta of 0.06. The business’s 50 day moving average price is $1.17.

Cyngn Inc. Common Stock (NASDAQ:CYN) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter. The business had revenue of $0.14 million 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%.

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.