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

Cyngn Inc. Common Stock (NASDAQ:CYN) released its earnings results on Wednesday. The company reported ($0.59) earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $0.10 million during the quarter. Cyngn Inc. Common Stock had a negative net margin of 9,413.00% and a negative return on equity of 62.98%.

Cyngn Inc. Common Stock Stock Down 2.2%

CYN stock traded down $0.03 during midday trading on Friday, reaching $1.45. The stock had a trading volume of 312,175 shares, compared to its average volume of 2,586,043. Cyngn Inc. Common Stock has a twelve month low of $1.33 and a twelve month high of $41.54. The firm has a market cap of $19.70 million, a price-to-earnings ratio of -0.27 and a beta of 0.06.

Analyst Ratings Changes

A number of research firms have commented on CYN. Weiss Ratings initiated coverage on shares of Cyngn Inc. Common Stock in a research note on Tuesday, April 7th. They set a “sell (e+)” rating on the stock. Wall Street Zen upgraded Cyngn Inc. Common Stock from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Zacks Research upgraded Cyngn Inc. Common Stock to a “hold” rating in a report on Tuesday, April 7th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Cyngn Inc. Common Stock Company Profile

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.