Cyngn Inc [CYN] Stock trading around $0.20 per share: What’s Next?

Cyngn Inc [NASDAQ: CYN] surged by $0.03 during the normal trading session on while it closed the day at $0.20. The company report on January 29, 2024 at 7:05 AM that Cyngn Granted 19th U.S. Patent for its AI-Powered Autonomous Vehicle Technologies.

Cyngn has been granted 16 patents in 2023, bringing the total US patents granted to 19.

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Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, today announced the issuance of a new patent, US-11,851,074-B2, for the Company’s autonomous vehicle (AV) and driving solutions. This new patent of System and Methods of Large-Scale Autonomous Driving Validation provides expanded safety features in identifying problems arising from AV driving operations and generating a notification message regarding the problem.

Cyngn Inc stock has also loss -7.89% of its value over the past 7 days. However, CYN stock has declined by -33.76% in the 3 months of the year. Over the past six months meanwhile, it has lost -74.00% and gained 36.42% year-on date.

The market cap for CYN stock reached $7.65 million, with 37.05 million shares outstanding and 24.62 million shares in the current float. Compared to the average trading volume of 11.09M shares, CYN reached a trading volume of 6991934 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 4.47. The Price to Book ratio for the last quarter was 0.75, with the Price to Cash per share for the same quarter was set at 0.21.

CYN stock trade performance evaluation

Cyngn Inc [CYN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.89. With this latest performance, CYN shares gained by 51.73% in over the last four-week period, additionally sinking by -74.00% over the last 6 months – not to mention a drop of -82.49% 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 52.69, with the RSI for the last a single of trading hit 52.57, and the three-weeks RSI is set at 51.08 for Cyngn Inc [CYN]. The present Moving Average for the last 50 days of trading for this stock 0.1844, while it was recorded at 0.2029 for the last single week of trading, and 0.5512 for the last 200 days.

Cyngn Inc [CYN]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Cyngn Inc [CYN] stock

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]: Institutional Ownership

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%.