A Guide To The Risks Of Investing In Cyngn Inc. (CYN)


In a filing, Cyngn Inc. revealed its Director Macleod Karen M acquired Company’s shares for reported $1538.0 on Mar 31. In the deal valued at $1.23 per share,1,250 shares were bought. As a result of this transaction, Macleod Karen M now holds 50,163 shares worth roughly $ 30599.43.

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Aegis Capital initiated its Cyngn Inc. [CYN] rating to a Buy in a research note published on Friday, November 16, 2021; the price target was $13. PT values the company’s stock at a premium of 95.31 to its Friday closing price.

Price Performance Review of CYN

On Friday, Cyngn Inc. [NASDAQ:CYN] saw its stock jump 5.39% to $0.61. On the same session, the stock had its day’s lowest price of $0.57, but rose to a high of $0.63. Over the last five days, the stock has lost -6.77%. Cyngn Inc. shares have fallen nearly -10.04% since the year began. Nevertheless, the stocks have fallen -51.90% over the past one year. While a 52-week high of $1.52 was reached on 04/19/23, a 52-week low of $0.53 was recorded on 08/31/23. SMA at 50 days reached $0.8949, while 200 days put it at $0.9395. A total of 59795.0 shares were traded, compared to the trading of 0.17 million shares in the previous session.

Levels Of Support And Resistance For CYN Stock

The 24-hour chart illustrates a support level at 0.5740, which if violated will result in even more drops to 0.5420. On the upside, there is a resistance level at 0.6340. A further resistance level may holdings at 0.6620. The Relative Strength Index (RSI) on the 14-day chart is 32.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0607, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.91%. Stochastics %K at 13.73% indicates the stock is a buying.

How much short interest is there in Cyngn Inc.?

A steep rise in short interest was recorded in Cyngn Inc. stocks on Aug 14, 2023, growing by 0.2 million shares to a total of 0.48 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.29 million shares. There was a rise of 40.3%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.72% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.31.

Cyngn Inc. [CYN] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 580,826 shares, or roughly 1.72% of the outstanding CYN shares. In other words, the investor’s shares have risen by 2,464 from its previous 13-F filing of 578362.0. Additionally, Geode Capital Management LLC increased 83.02% of its stake after which the total value it holdings stand at $184,982, while BlackRock Fund Advisors added 13.11% of its stake to hold $0.1 million in the firm. At present, SSgA Funds Management, Inc. is holding 28,100 shares valued at $25571.0. Tower Research Capital LLC owned 6,170 shares of the company at the time of its most recent 13F filing, worth $5615.0.

According to FactSet, Cyngn Inc.’s share price will average $7.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 1215.79 percent from its previous closing price of $0.57. Analysts expect Cyngn Inc. stock to reach the higher price of $10.00, while the lowest price estimate is $5.00. However, 2 analysts have rated CYN stock as a Buy in their predictions for 2023.


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