Sabby Management LLC recently announced the acquisition of new stake in Cyngn Inc (NASDAQ:CYN). This fresh investment now brings its stake to 9.99% valued currently at $0.77 million. In addition, Empery Asset Management LP raised its holdings by 2.11 million to 2.11 million shares. And Geode Capital Management LLC has lifted its position by 21.28% or 47587.0 shares – to 0.27 million shares.
Currently, there are 37.05M common shares owned by the public and among those 24.62M shares have been available to trade.
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Insiders at the company have transacted a total of 4 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 109,250 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Cyngn Inc are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market ETF owns 0.53 million shares of the company’s stock, all valued at over $76265.0. Fidelity Extended Market Index Fu bought 1.0 shares to bring its total holdings to over 0.14 million shares at a value of $20002.0. Fidelity Extended Market Index Fu now owns shares totaling to 0.26% of the shares outstanding.
The company’s stock has a 5-day price change of 110.86% and -23.29% over the past three months. CYN shares are trading 83.90% year to date (YTD), with the 12-month market performance down to -62.24% lower. It has a 12-month low price of $0.12 and touched a high of $1.38 over the same period. CYN has an average intraday trading volume of 9.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 87.30%, 46.50%, and -54.62% respectively.
Institutional ownership of Cyngn Inc (NASDAQ: CYN) shares accounts for 22.38% of the company’s 37.05M shares outstanding. Mutual fund holders own 1.90%, while other institutional holders and individual stakeholders account for 14.37% and 0.74% respectively.
It has a market capitalization of $10.31M and a beta (3y monthly) value of -1.90. The earnings-per-share (ttm) stands at -$0.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 32.27% over the week and 16.05% over the month.
Analysts forecast that Cyngn Inc (CYN) will achieve an EPS of -$0.1 for the current quarter, -$0.15 for the next quarter and -$0.43 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.14 a year ago. Earnings per share for the fiscal year are expected to increase by 4.19%, and 48.15% over the next financial year.
Looking at the support for the CYN, a number of firms have released research notes about the stock. Aegis Capital stated their Buy rating for the stock in a research note on November 16, 2021, with the firm’s price target at $13.
