Cyngn Inc [CYN] Stock trading around $0.27 per share: What’s Next?

Cyngn Inc [NASDAQ: CYN] stock went on an upward path that rose over 23.77% on Friday, amounting to a one-week price increase of more than 110.86%. The company report on January 25, 2024 at 7:05 AM that Cyngn’s Next-Gen DriveMod Kit Will Harness Nvidia AI Computers.

Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN) today announced a strategic shift to Nvidia AI computers that will revolutionize the technology powering its fleet of DriveMod autonomous industrial vehicles. Following the path Tesla took with its Autopilot hardware, the company is embarking on an innovative initiative to transition from Intel microprocessors to Nvidia AI computers. This transformation will encompass the entire DriveMod lineup, including the DriveMod Tugger, the DriveMod Stockchaser, and the DriveMod Forklift.

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The decision to adopt Nvidia AI computers is driven by Cyngn’s commitment to enhancing both the efficiency and capability of its vehicles while concurrently reducing production costs. The unparalleled processing power and advanced development ecosystem offered by Nvidia’s computers align with Cyngn’s vision for the future of robotic autonomous platforms.

Over the last 12 months, CYN stock dropped by -62.24%. The one-year Cyngn Inc stock forecast points to a potential upside of 91.0. The average equity rating for CYN stock is currently 1.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $10.31 million, with 37.05 million shares outstanding and 24.62 million shares in the current float. Compared to the average trading volume of 9.09M shares, CYN stock reached a trading volume of 56560965 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 $3.00 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 1.00. 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 0.04, with the Price to Sales ratio for CYN stock in the period of the last 12 months amounting to 6.03. The Price to Book ratio for the last quarter was 1.01, with the Price to Cash per share for the same quarter was set at 0.21.

CYN Stock Performance Analysis:

Cyngn Inc [CYN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 110.86. With this latest performance, CYN shares gained by 71.68% in over the last four-week period, additionally sinking by -67.33% over the last 6 months – not to mention a drop of -62.24% in the past year of trading.

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 73.25, with the RSI for the last a single of trading hit 84.87, and the three-weeks RSI is set at 63.66 for Cyngn Inc [CYN]. The present Moving Average for the last 50 days of trading for this stock 0.1831, while it was recorded at 0.1923 for the last single week of trading, and 0.5823 for the last 200 days.

Insight into Cyngn Inc Fundamentals:

Cyngn Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.38 and a Current Ratio set at 6.38.

CYN Stock EPS

With the latest financial reports released by the company, Cyngn Inc posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CYN.

Cyngn Inc [CYN] Institutonal Ownership Details

The top three institutional holders of CYN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CYN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CYN stock with ownership which is approximately 5.8325%.