Cyngn Inc [NASDAQ: CYN] gained 3.97% or 0.01 points to close at $0.17 with a heavy trading volume of 20326232 shares. The company report on March 19, 2024 at 7:05 AM that Cyngn Completes Initial DriveMod Tugger Deployment with Rivian.
Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications today announced its initial DriveMod Tugger deployment with Rivian, the innovative leading electric vehicle manufacturer. The deployment was at Rivian’s Normal, IL manufacturing facility.
This deployment continues to emphasize the commercial interest Cyngn’s Enterprise Autonomy Suite (EAS) products are garnering with customers that manufacture vehicles and other heavy equipment.
The daily chart for CYN points out that the company has recorded -64.67% loss over the past six months.
If we look at the average trading volume of 10.16M shares, CYN reached to a volume of 20326232 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $2.70 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 0.03, with the Price to Sales ratio for CYN stock in the period of the last 12 months amounting to 7.17. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.13.
Trading performance analysis for CYN stock
Cyngn Inc [CYN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.61. With this latest performance, CYN shares dropped by -14.73% in over the last four-week period, additionally sinking by -64.67% over the last 6 months – not to mention a drop of -84.62% 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 44.50, with the RSI for the last a single of trading hit 42.02, and the three-weeks RSI is set at 45.92 for Cyngn Inc [CYN]. The present Moving Average for the last 50 days of trading for this stock 0.1792, while it was recorded at 0.1619 for the last single week of trading, and 0.4489 for the last 200 days.
Cyngn Inc [CYN]: A deeper dive into fundamental analysis
Cyngn Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.55 and a Current Ratio set at 4.55.
Cyngn Inc [CYN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Cyngn Inc posted -0.15/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.80%. 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.
An analysis of Institutional ownership at Cyngn Inc [CYN]
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%.
