Cyngn Inc. Common Stock (NASDAQ:CYN) Posts Earnings Results

Cyngn Inc. Common Stock (NASDAQ:CYN) posted its quarterly earnings results on Wednesday. The company reported ($0.45) earnings per share (EPS) for the quarter, Zacks reports. Cyngn Inc. Common Stock had a negative return on equity of 59.68% and a negative net margin of 9,413.00%.

Cyngn Inc. Common Stock Trading Down 4.4%

Shares of NASDAQ:CYN traded down $0.06 during mid-day trading on Wednesday, hitting $1.21. The stock had a trading volume of 305,825 shares, compared to its average volume of 1,653,204. The firm’s 50 day simple moving average is $1.22. Cyngn Inc. Common Stock has a 12-month low of $1.03 and a 12-month high of $6.82. The stock has a market capitalization of $17.38 million, a P/E ratio of -0.23 and a beta of 0.06.

Analyst Upgrades and Downgrades

CYN has been the subject of several research reports. Wall Street Zen lowered Cyngn Inc. Common Stock from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cyngn Inc. Common Stock in a report on Monday, July 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

About Cyngn Inc. Common Stock

Cyngn Inc is an industrial autonomous vehicle technology company, focused on addressing industrial uses for autonomous vehicles. It develops full-stack autonomous driving software, DriveMod, which is integrated into vehicles manufactured by original equipment manufacturers during the assembly process. The company designs its software to be compatible with a range of sensors and hardware components and integrates it with its own systems to enable autonomous vehicle functionality.