Cyngn Inc (NASDAQ: CYN) Stock: Can It Surge Further?

In today’s recent session, 0.57 million shares of the Cyngn Inc (NASDAQ:CYN) have been traded, and its beta is -2.03. Most recently the company’s share price was $0.16, and it changed around -$0.01 or -3.24% from the last close, which brings the market valuation of the company to $13.53M. CYN at last check was trading at a discount to its 52-week high of $1.38, offering almost -762.5% off that amount. The share price’s 52-week low was $0.12, which indicates that the recent value has risen by an impressive 25.0% since then. We note from Cyngn Inc’s average daily trading volume that its 10-day average is 4.41 million shares, with the 3-month average coming to 10.42 million.

Cyngn Inc (NASDAQ:CYN) trade information

Instantly CYN has been showing red trend so far today with a performance of -3.24% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 13.61% year-to-date, but still up 4.12% over the last five days. On the other hand, Cyngn Inc (NASDAQ:CYN) is -16.55% down in the 30-day period. We can see from the shorts that 2.1 million shares have been sold at a short interest cover period of 0.42 day(s).

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Cyngn Inc (CYN) estimates and forecasts

Cyngn Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -62.33 percent over the past six months and at a 50.88% annual growth rate that is well above the industry average of 14.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 60.00% in revenue this quarter, and will report an increase of 58.80% in the next quarter. The year-over-year growth rate is expected to be 115.60%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $360k in revenue for the current quarter. 1 analysts expect Cyngn Inc to make $540k in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $872k and $551k respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -58.70%. Forecasts for the next quarter put sales growth at -2.00%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -16.02%.

CYN Dividends

Cyngn Inc’s next quarterly earnings report is expected to be released around May 10 and May 14.

Cyngn Inc (NASDAQ:CYN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.94% of Cyngn Inc shares, and 31.68% of them are in the hands of institutional investors. The stock currently has a share float of 31.99%. Cyngn Inc stock is held by 31 institutions, with Redpoint Management, Llc being the largest institutional investor. By Jun 29, 2023, it held 7.09% of the shares, which is about 2.46 million shares worth $2.87 million.

Vanguard Group Inc, with 1.67% or 0.58 million shares worth $0.68 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 0.48 million shares worth $0.56 million, making up 1.38% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.1 million shares worth around $0.12 million, which represents about 0.29% of the total shares outstanding.