Cyngn Inc. Common Stock (NASDAQ:CYN) Shares Shorted: Short Interest Down 38.2% in October

Cyngn Inc. Common Stock (NASDAQ:CYN) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 378,736 shares, a decrease of 38.2% from the September 30th total of 613,297 shares. Based on an average daily trading volume, of 208,701 shares, the short-interest ratio is currently 1.8 days. Approximately 2.5% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of analysts have issued reports on CYN shares. Wall Street Zen raised Cyngn Inc. Common Stock from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cyngn Inc. Common Stock in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Cyngn Inc. Common Stock Stock Performance

Shares of NASDAQ:CYN traded down $0.02 on Monday, reaching $0.33. The company’s stock had a trading volume of 74,718 shares, compared to its average volume of 1,257,473. The company has a 50-day simple moving average of $0.70 and a 200 day simple moving average of $1.12. Cyngn Inc. Common Stock has a 52-week low of $0.33 and a 52-week high of $4.76. The company has a market cap of $5.01 million, a P/E ratio of -0.11 and a beta of 0.17.

Cyngn Inc. Common Stock (NASDAQ:CYN) last announced its earnings results on Wednesday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter. Cyngn Inc. Common Stock had a negative net margin of 6,953.61% and a negative return on equity of 62.53%. The business had revenue of $0.14 million for the quarter.

Cyngn Inc. Common Stock Company Profile

Cyngn Inc develops autonomous vehicle technology for industrial and commercial applications. The company’s platform is designed to help businesses automate material handling and transportation tasks in environments such as warehouses, manufacturing facilities, distribution centers and other controlled work sites.

Its principal offering, DriveMod, is an autonomous driving software platform intended for integration with industrial vehicles, including trucks and other material-handling equipment.