Can Cyngn Inc (NASDAQ: CYN) Be A Safe Investment Now?

Cyngn Inc (NASDAQ:CYN) shares, rose in value, with the stock price down by -2.53% to the previous day’s close as strong demand from buyers drove the stock to $0.16.

Actively observing the price movement in the last trading, the stock closed the session at $0.17. The value of beta (5-year monthly) was -2.03. Referring to stock’s 52-week performance, its high was $1.38, and the low was $0.12. On the whole, CYN has fluctuated by -21.36% over the past month.

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With the market capitalization of Cyngn Inc currently standing at about $13.33 million, investors are eagerly awaiting this quarter’s results, scheduled for May 10, 2024 – May 14, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.06, which is expected to increase to -$0.07 for fiscal year -$0.26 and then to about -$0.08 by fiscal year 2025. Data indicates that the EPS growth is expected to be 54.40% in 2025, while the next year’s EPS growth is forecast to be 69.20%.

Analysts have estimated the company’s revenue for the quarter at $360k, with a low estimate of $360k and a high estimate of $360k. According to the average forecast, sales growth in current quarter could jump down -58.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $3.21 million, representing an increase of 115.60% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CYN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CYN currently trading nearly -4.57% and -12.61% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.63, while the 7-day volatility ratio is showing 8.57% which for the 30-day chart, stands at 10.26%. Furthermore, Cyngn Inc (CYN)’s beta value is -2.03, and its average true range (ATR) is 0.02.

A comparison of Cyngn Inc (CYN) with its peers suggests the former has fared considerably weaker in the market. CYN showed an intraday change of -2.53% in last session, and over the past year, it shrunk by -85.63%%.

Data on historical trading for Cyngn Inc (NASDAQ:CYN) indicates that the trading volumes over the past 10 days have averaged 2.4 million and over the past 3 months, they’ve averaged 10.43 million. According to company’s latest data on outstanding shares, there are 64.77 million shares outstanding.

Nearly 35.45% of Cyngn Inc’s shares belong to company insiders and institutional investors own 9.68% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.1 million shares as on Mar 15, 2024, resulting in a short ratio of 0.42. According to the data, the short interest in Cyngn Inc (CYN) stood at 2.56% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 1.9 million. The stock has risen by 11.96% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CYN stock heading into the next quarter.