Cyngn Inc. Common Stock (NASDAQ:CYN) Short Interest Down 48.4% in August

Cyngn Inc. Common Stock (NASDAQ:CYN) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 717,481 shares, a decrease of 48.4% from the July 30th total of 1,391,675 shares. Currently, 5.0% of the shares of the company are sold short. Based on an average daily volume of 199,702 shares, the days-to-cover ratio is presently 3.6 days.

Hedge Funds Weigh In On Cyngn Inc. Common Stock

An institutional investor recently bought a new stake in Cyngn Inc. Common Stock stock. Foster & Motley Inc. bought a new stake in Cyngn Inc. Common Stock (NASDAQ:CYN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,919 shares of the company’s stock, valued at approximately $175,000. Foster & Motley Inc. owned 0.09% of Cyngn Inc. Common Stock as of its most recent SEC filing. 73.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Cyngn Inc. Common Stock in a research report on Monday, July 6th. Wall Street Zen cut shares of Cyngn Inc. Common Stock from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cyngn Inc. Common Stock presently has an average rating of “Reduce”.

Cyngn Inc. Common Stock Trading Up 1.0%

CYN opened at $1.05 on Tuesday. The company has a market capitalization of $15.14 million, a PE ratio of -0.35 and a beta of 0.06. Cyngn Inc. Common Stock has a 1 year low of $1.03 and a 1 year high of $6.82. The company’s 50 day moving average price is $1.16.

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

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.