Cyngn Inc (NASDAQ:CYN) shares, rose in value, with the stock price up by 1.50% to the previous day’s close as strong demand from buyers drove the stock to $0.11.
Actively observing the price movement in the last trading, the stock closed the session at $0.11. Referring to stock’s 52-week performance, its high was $1.25, and the low was $0.10. On the whole, CYN has fluctuated by -31.30% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 3.21M, with a low estimate of 360k and a high estimate of 360k. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 360k.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. 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 100% 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 -22.82% and -34.32% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 35.00, while the 7-day volatility ratio is showing 39.14% which for the 30-day chart, stands at 18.09%. Furthermore, Cyngn Inc (CYN)’s beta value is -1.83, and its average true range (ATR) is 0.03.
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 1.50% in last session, and over the past year, it shrunk by -88.77%%.
Data on historical trading for Cyngn Inc (NASDAQ:CYN) indicates that the trading volumes over the past 3 months, they’ve averaged 13.16 million. According to company’s latest data on outstanding shares, there are 64.77 million shares outstanding.
Nearly 22.73% of Cyngn Inc’s shares belong to company insiders and institutional investors own 9.71% of the company’s shares. The stock has fallen by -25.22% 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.
