Aegis Capital slashes price target on Cyngn Inc. [CYN] – find out why.


Cyngn Inc. [NASDAQ: CYN] stock went on an upward path that rose over 18.06% on Monday, amounting to a one-week price decrease of less than -8.21%. The company report on May 4, 2022 that Cyngn Launches Infinitracker – A GPS Asset Tracker and IoT Gateway with 15-year Battery.

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Cyngn (or the “Company”) (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications, today announced the launch of Infinitracker, a global GPS asset-tracking device and Internet of things (“IoT”) data collection gateway with up to 15 years of battery life. The Infinitracker product aligns with Cyngn’s mission to create new data insights in industrial domains such as manufacturing, fulfillment, logistics, construction, and mining.

This press release features multimedia. View the full release here:

The one-year Cyngn Inc. stock forecast points to a potential upside of 67.31. The average equity rating for CYN stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $119.59 million, with 26.65 million shares outstanding and 25.01 million shares in the current float. Compared to the average trading volume of 8.56M shares, CYN stock reached a trading volume of 20976408 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Cyngn Inc. [CYN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CYN shares is $13.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CYN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Aegis Capital have made an estimate for Cyngn Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 16, 2021.

The Average True Range (ATR) for Cyngn Inc. is set at 0.80 The Price to Book ratio for the last quarter was 5.12, with the Price to Cash per share for the same quarter was set at 0.78.

CYN Stock Performance Analysis:

Cyngn Inc. [CYN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.21. With this latest performance, CYN shares gained by 203.57% in over the last four-week period, additionally sinking by -42.88% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CYN stock in for the last two-week period is set at 62.46, with the RSI for the last a single of trading hit 61.85, and the three-weeks RSI is set at 62.02 for Cyngn Inc. [CYN]. The present Moving Average for the last 50 days of trading for this stock 2.01, while it was recorded at 3.74 for the last single week of trading.

Insight into Cyngn Inc. Fundamentals:

Cyngn Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 55.30 and a Current Ratio set at 55.30.

Cyngn Inc. [CYN] Insider Position Details

There are presently around $31 million, or 66.40% of CYN stock, in the hands of institutional investors. The top three institutional holders of CYN stocks are: AH EQUITY PARTNERS III, L.L.C. with ownership of 5,234,828, which is approximately New of the company’s market cap and around 1.90% of the total institutional ownership; REDPOINT MANAGEMENT, LLC, holding 2,463,851 shares of the stock with an approximate value of $8.87 million in CYN stocks shares; and QUALCOMM INC/DE, currently with $1.14 million in CYN stock with ownership of nearly New of the company’s market capitalization.

13 institutional holders increased their position in Cyngn Inc. [NASDAQ:CYN] by around 8,634,202 shares. Additionally, 2 investors decreased positions by around 68,779 shares, while 2 investors held positions by with 68,179 shares. The mentioned changes placed institutional holdings at 8,634,802 shares, according to the latest SEC report filing. CYN stock had 13 new institutional investments in for a total of 8,634,202 shares, while 2 institutional investors sold positions of 68,779 shares during the same period.