Cycurion, Inc. (NASDAQ:CYCU) Sees Large Decline in Short Interest

Cycurion, Inc. (NASDAQ:CYCU) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 348,350 shares, a drop of 68.4% from the August 15th total of 1,103,029 shares. Based on an average trading volume of 583,868 shares, the short-interest ratio is currently 0.6 days. Currently, 11.3% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen upgraded Cycurion from a “strong sell” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings cut shares of Cycurion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cycurion has an average rating of “Hold” and an average price target of $56.00.

Cycurion Stock Performance

Shares of CYCU traded down $0.17 during mid-day trading on Friday, reaching $3.33. The company’s stock had a trading volume of 143,983 shares, compared to its average volume of 930,324. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.03. Cycurion has a 1-year low of $2.08 and a 1-year high of $127.02. The business has a 50-day simple moving average of $4.35 and a two-hundred day simple moving average of $7.01. The stock has a market cap of $10.76 million, a P/E ratio of -0.14 and a beta of 0.91.

Cycurion announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 17th that allows the company to buyback $500.00 billion in shares. This buyback authorization allows the company to buy up to 6,361,323.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

About Cycurion

Cycurion is a global leading provider of Network Communications and Information Technology Security Solutions. Our mission is to develop and deliver world-class, cutting-edge solutions for our clients, regardless of size or complication, expressly optimizing your IT environment to meet the business need and to keep projects on track and on budget.