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

Cyngn Inc. Common Stock (NASDAQ:CYN) posted its 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 net margin of 9,413.00% and a negative return on equity of 59.68%.

Cyngn Inc. Common Stock Price Performance

Shares of Cyngn Inc. Common Stock stock traded down $0.06 on Wednesday, hitting $1.21. 332,858 shares of the company’s stock were exchanged, compared to its average volume of 1,653,662. Cyngn Inc. Common Stock has a 1 year low of $1.03 and a 1 year high of $6.82. The firm has a 50-day moving average of $1.22. The company has a market capitalization of $17.38 million, a PE ratio of -0.23 and a beta of 0.06.

Wall Street Analysts Forecast Growth

CYN has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Cyngn Inc. Common Stock in a report on Monday, July 6th. Wall Street Zen downgraded shares of Cyngn Inc. Common Stock from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company 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.