Cyngn Inc (NASDAQ: CYN) stock jumped 7.83% on Monday to $0.21 against a previous-day closing price of $0.19. With 0.19 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.33 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.2198 whereas the lowest price it dropped to was $0.1902. The 52-week range on CYN shows that it touched its highest point at $1.38 and its lowest point at $0.17 during that stretch. It currently has a 1-year price target of $10.00. Beta for the stock currently stands at -2.10.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CYN was up-trending over the past week, with a rise of 6.72%, but this was down by -39.26% over a month. Three-month performance dropped to -65.13% while six-month performance fell -76.59%. The stock lost -69.67% in the past year, while it has lost -66.28% so far this year. A look at the trailing 12-month EPS for CYN yields -0.60 with Next year EPS estimates of -0.46. For the next quarter, that number is -0.16. This implies an EPS growth rate of -15.32% for this year and 29.23% for next year.
Float and Shares Shorts:
At present, 37.05 million CYN shares are outstanding with a float of 19.06 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.82 million, which was 2.16% higher than short shares on Sep 28, 2023. In addition to Mr. Lior Tal as the firm’s CEO & Chairman of the Board, Mr. Donald Alvarez serves as its CFO & Director.
Institutional Ownership:
Through their ownership of 52.84% of CYN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 2.65% of CYN, in contrast to 1.03% held by mutual funds. Shares owned by individuals account for 0.59%. As the largest shareholder in CYN with 1.67% of the stake, The Vanguard Group, Inc. holds 638,909 shares worth 638,909. A second-largest stockholder of CYN, Geode Capital Management LLC, holds 271,192 shares, controlling over 0.71% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in CYN, holding 122,757 shares or 0.32% stake. With a 1.38% stake in CYN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 525,964 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.49% of CYN stock, is the second-largest Mutual Fund holder. It holds 186,493 shares valued at 63408.0. Fidelity Extended Market Index Fu holds 0.36% of the stake in CYN, owning 137,948 shares worth 46902.0.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CYN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CYN analysts setting a high price target of $10.00 and a low target of $10.00, the average target price over the next 12 months is $10.00. Based on these targets, CYN could surge 4661.9% to reach the target high and rise by 4661.9% to reach the target low. Reaching the average price target will result in a growth of 4661.9% from current levels.
Summary of Insider Activity:
Insiders traded CYN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 109,250 while 0 shares were sold.
