Cycurion (NASDAQ:CYCU) to Repurchase $500.00 billion in Shares

Cycurion (NASDAQ:CYCU) declared that its Board of Directors has initiated a share buyback plan on Monday, August 17th, RTT News reports. The company plans to buyback $500.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6,361,323.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently commented on CYCU shares. Wall Street Zen upgraded Cycurion from a “strong sell” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings lowered Cycurion from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.00.

Cycurion Trading Up 6.8%

Cycurion stock traded up $0.05 during trading hours on Monday, reaching $0.73. The stock had a trading volume of 10,466,674 shares, compared to its average volume of 53,254,376. The stock has a market cap of $8.39 million, a PE ratio of -0.10 and a beta of 0.97. Cycurion has a 52 week low of $0.26 and a 52 week high of $15.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.31 and a quick ratio of 0.31. The company has a fifty day simple moving average of $0.59 and a 200-day simple moving average of $1.06.

Cycurion (NASDAQ:CYCU) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.15. The firm had revenue of $3.76 million during the quarter. Cycurion had a negative net margin of 98.83% and a negative return on equity of 103.60%. Analysts forecast that Cycurion will post -2.34 EPS for the current fiscal year.

Cycurion Company Profile

Cycurion is a global leading provider of Network Communications and Information Technology Security Solutions. Our mission is to develop and deliver world-class, cutting-edge solutions for our clients, regardless of size or complication, expressly optimizing your IT environment to meet the business need and to keep projects on track and on budget.