Cyngn Inc (NASDAQ:CYN) price closed lower on Tuesday, February 04, and dropping -39.26% below its previous close.
A look at the daily price movement shows that the last close reads $0.12, with intraday deals fluctuated between $0.0695 and $0.1098. The company’s 5Y monthly beta was ticking -1.901. Taking into account the 52-week price action we note that the stock hit a 52-week high of $25.88 and 52-week low of $0.12. The stock subtracted -91.33% on its value in the past month.
Cyngn Inc, which has a market valuation of $1.94 million, is expected to release its quarterly earnings report in March.
On average, analysts have forecast the company’s revenue for the quarter will hit 400k, with the likely lows of 400k and highs of 400k. The average estimate suggests sales growth for the quarter will likely rise by 891.08% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of 614k for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow -58.77% below that which the company brought in the current year earning report.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give CYN a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
The overview shows that CYN’s price is at present -85.30% off the SMA20 and -96.92% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 21.38, with weekly volatility standing at 29.69%. The indicator jumps to 18.57% when calculated based on the past 30 days. Cyngn Inc (NASDAQ:CYN)’s beta value is holding at -1.20, while the average true range (ATR) indicator is currently reading 0.18.
An analysis of the Cyngn Inc (NASDAQ:CYN) stock in terms of its daily trading volume indicates that the 3-month average is 7.69 million. However, this figure increases on the past 10-day timeline to an average of 12.9 million.
Current records show that the company has 2.43M in outstanding shares. The insiders’ percentage holdings are 9.57% of outstanding shares. The stats also highlight that short interest as of 2024-10-15, stood at 0.12 million shares, which puts the short ratio at the time at 2.8. From this we can glean that short interest is 595.00 of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 0.2 million. But the -91.64% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
