Cyngn Inc. Common Stock (NASDAQ:CYN) Sees Large Decrease in Short Interest

Cyngn Inc. Common Stock (NASDAQ:CYN) saw a significant decrease in short interest during 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 currently 3.6 days. Approximately 5.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Cyngn Inc. Common Stock

An institutional investor recently bought a new stake in Cyngn Inc. Common Stock stock. Foster & Motley Inc. acquired a new stake in Cyngn Inc. Common Stock (NASDAQ:CYN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 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 reporting period. Institutional investors own 73.20% of the company’s stock.

Cyngn Inc. Common Stock Stock Performance

Shares of Cyngn Inc. Common Stock stock traded down $0.06 during trading hours on Friday, reaching $1.04. The company’s stock had a trading volume of 91,803 shares, compared to its average volume of 163,590. The business’s 50 day simple moving average is $1.17. Cyngn Inc. Common Stock has a one year low of $1.03 and a one year high of $6.82. The stock has a market cap of $15.00 million, a PE ratio of -0.34 and a beta of 0.06.

Cyngn Inc. Common Stock (NASDAQ:CYN) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.45) EPS for the quarter. The business had revenue of $0.14 million during the quarter. Cyngn Inc. Common Stock had a negative net margin of 6,953.61% and a negative return on equity of 62.53%.

Analyst Ratings Changes

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