Cyngn Inc (NASDAQ:CYN) traded at $0.16 at close of the session on Monday, March 18, made a downward move of -0.81% on its previous day’s price.
Looking at the stock we see that its previous close was $0.16 and the beta (5Y monthly) reads -2.03 . In terms of its 52-week price range, CYN has a high of $1.38 and a low of $0.12. The company’s stock has lost about -22.21% over that past 30 days.
Cyngn Inc has a market cap of $10.28 million and is expected to release its quarterly earnings report on May 10, 2024 – May 14, 2024. Estimates by analysts give the company expected earnings per share (EPS) of -$0.06, with the EPS growth for the year raised at -$0.34 for 2024 and -$0.18 for next year. These figures represent 40.40% and 47.10% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $360k, with a low of $360k and a high of $360k. The median projection represents growth adding up to -58.70% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $5.35 million, or 259.30% up from figures reported last year.
There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CYN stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.
Looking further, we note the current price level is -15.76% off its SMA20 and -10.85% from its 50-day simple moving average. The RSI (14) is pointing at 42.08 while the volatility over the past week is 9.64% and jumps to 14.14% over the past one month. The beta value is -2.03, while the average true range (ATR) is currently pointing at 0.03.
Coming back to Cyngn Inc (NASDAQ:CYN), we note that the average 3-month trading volume was 10.20 million, while that of the preceding 10-day period stands at 3.69 million. Current shares outstanding are 64.77 million.
The insiders hold 35.45% of the company’s shares while institutions hold 12.29%. The data shows that short shares as of Feb 29, 2024, stood at 2.03 million at a short ratio of 0.28. This represents a 2.46% short interest in shares outstanding on Feb 29, 2024. Shares short fall in February from the previous month at 5.66 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 9.68% up in year-to-date price movement.
