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Tag: CYRN stock

  • Cyren Ltd. (CYRN) stock Succumbs to Corrections After Hours

    On March 08, Cyren Ltd. (CYRN) stock added a huge 45.59% during the regular trading session while there was news from the company. Consequently, the stock fell under corrections in the after-hours session to shed its gains.

    CYRN stock fluctuated between a high of $13.87 and a low of $6.13 during the regular trading session on Tuesday. At a heavy volume of 20.65 million shares, the stock closed the session at $10.41. Thus, added a value of $3.26% or 45.59% intraday trading. Following this, the stock lost 9.32% under corrections in the after-hours. Hence, the stock was trading at $9.44 apiece in the after-hours on Tuesday.

    The cloud-based security solutions provider, Cyren Ltd. provides an array of cybersecurity solutions including e-mail security, cyber intelligence suits, malware attack detection, mobile security, and many more. Currently, the company has a market capitalization of $32.41 million with 4.53 million outstanding shares.

    What Happened with CYRN?

    CYRN has been bullish since March 04, while the latest news from the company date back to February 25. With no official reason, it seems the stock has been bullish due to the Russia-Ukraine conflict. Cybersecurity stocks have been widely enjoying a good fortune since the conflict started. The reason for this is cyber attacks and cyber tools being a huge part of such conflicts. It seems as the conflict continues with more and more sanctions on Russia, investors are flocking towards cybersecurity stocks. Thus, CRYN has also been trading actively over the past few weeks.

    In the past five days alone, the stock has increased by 60.40% while adding a humungous 155.40% last month. CYRN stands at a year-to-date gain of 78.13% while it suffered a loss of 41.71% last year.

    Following the huge gain on Tuesday along with the gains from Monday and Friday, CYRN stock was bound for corrections. Therefore, the stock succumbed to corrections in the after-hours on Tuesday.

    Company News

    On February 25, the company announced receiving formal notification from Nasdaq. As per the notification, the company has regained compliance with Listing Rule 5550(a)(2).

    Source: WAATagNet

    Previously, after closing trading below $1.0 per share for over 30 consecutive days, Nasdaq had notified the company of its non-compliance on April 9, 2021. Thus, now that the company’s minimum bid price has been above $1.00 for consecutive 20 days, it has regained compliance with Nasdaq.

    On February 14, the company announced the closing of its $12 million at-the-market private placement of 3.129,075 ordinary shares and warrants. The purchase price of the shares and associated warrants was $3.835 per share.

  • CYREN Ltd. (CYRN) stock Continues its Bullishness into the After Hours. Here’s why?

    CYREN Ltd. (CYRN) stock Continues its Bullishness into the After Hours. Here’s why?

    On February 24, CYREN Ltd. (CYRN) added a huge 118.89% during the regular trading session. The stock continued its bullishness into the after-hours session as well. Being a meme stock the bullishness can be attributed to two possible reasons including a recent SEC filing and Twitter discussions.

    The stock fluctuated between a high of $6.6577 and a low of $1.9800 during the regular session. At a super active volume of 26.38 million shares, CYRN stock closed the session at a value of $4.7500 per share. Continuing the bullishness into the after-hours, the stock added a further 11.37%. Hence, CYRN was trading at a value of $5.29 per share at an after-hours volume of 1.48 million shares in the after-hours on Thursday.

    The cloud-based security solutions provider, CYREN Ltd. is based in Israel. Currently, the company has a market capitalization of $9.84 million with its 4.53 million shares outstanding.

    What is Happening with CYRN?

    On February 23, the company submitted a filing with the U.S. Securities Exchange Commission. While the filing might have a role in the recent movement, it’s more likely that the stock is moving up for other reasons as it is a meme stock.

    With the escalating conflict between Russia and Ukraine, negative market momentum is causing most stocks to trade in the red. But on the other hand, cybersecurity firms have been picking up the momentum lately. The meme stock CYRN was actively discussed on the social media platform Twitter on Thursday. Many social media influencers and day traders along with market scanners were mentioning the stock throughout the day. While at the end of the regular session the stock gained 118.89%, it had increased by as much as 200% mid-session. The hike in the stock led its five-day gain to a huge 83.40% while it has lost 18.72% year to date.

    While it is uncertain if the bullishness will continue further, the stock is ripe for profit booking and due to corrections.

    At-the-Market Private Placement

    On February 14, the company announced the closing of its private placement which was announced on February 10, 2022. CYRN had issued 3,129,075 ordinary shares and warrants in a securities purchase agreement with certain institutional and accredited investors. Moreover, the purchase price of the offered shares was $3.835 per share. The placement resulted in proceeds of $12 million approx.

    CYRN’s Q3 2021 Summary

    In Q3 2021, the company had a non-GAAP net loss of $4.3 million on revenue of $7.5 million. This compares to a net loss of $2.9 million on revenue of $9.1 million in the year-ago quarter.

  • Cyren Ltd. (CYRN) is down in the current market, here is the reason:

    Cyren Ltd. (CYRN) plunged into the current market after announcing its reverse stock split in a press release. Since yesterday’s closing price, CYRN has declined more than 22.44% in value, making its stock worth less than $0.18. The stock closed at $0.24 at the end of the previous trading session. The stock trading volume in the previous trading session was around 1.18 million shares.

    Cyren Ltd. (CYRN) reverse stock split

    To reflect a 1:20 reverse stock split, CYRN has announced the action. Shares of the company will trade on a split-adjusted basis on February 9, 2022, following the reverse share split.

    Shareholders approved a 1:4 to 1:20 reverse share split by the board and articles of incorporation changes for an increment in the company’s allowed stock capital. The decision will happen on the date set for the event. In addition to the 216 million to 240 million share capital increase, the Board of Directors approved a 1:20 reverse share split.

    There will be an additional 80 million common stock shares after the reverse share split. The authorized share capital of the firm has been enhanced to NIS 240 million, with a par value of NIS 3.00 per common stock share.

    There will be no fractional shares in the Reverse Share Split. It is customary to round down fractional shares towards the following entire common stock when calculating dividends. The reverse share split will not affect those who hold their ordinary shares of the CYRN through a bank, brokerage, or other nominated in book-entry form. Immediately after the Reverse Share Split, the Company’s brokerage will inform stakeholders of their common stock ownership history.

    Conclusion

    CYRN stock is currently below $1 per share, which means they have to increase the stock price to meet NASDAQ compliance. If they failed in it, it could threaten its listing on the stock market.

  • Cyren Ltd. (CYRN) stock Rebounds After Hours. Any Reasons?

    On February 03, 2022, Cyren Ltd. (CYRN) made a comeback in the after-hours with a gain of 13.98%. There is no official announcement, SEC filing, or upcoming event on the company’s calendar.

    At a below-average volume of 818.79K shares, the stock declined by 6.65% during the regular session. After closing the session at $0.2260, CYRN stock rebounded in the after hours. Hence, the stock was trading at $0.2576 per share in the after-hours at a volume of 480.86K.

    The cloud-based security solutions provider, Cyren Ltd. has a market capitalization of $21.95 million. The company has 90.66 million outstanding shares in the market.

    CYRN stock Movement

    CYRN stock had been in a downtrend for the past two days. During Thursday’s regular session, the stock went down to a low of $0.21, just above its 52-week low of $0.2080. It seems the downfall caused the stock to make a comeback after hours. As there is no official news, SEC filing, or an upcoming event in the company’s timeline to suggest the movement. Therefore, seemingly the low value of the stock provided a good buying opportunity to investors. Thus, causing the stock to recover after hours.

    In the past five days, CYRN has lost 4.07% while declining by 22.66% year to date. Moreover, the stock subtracted a value of 79.64% last year.

    Recent Developments

    On January 25, the company announced joining Palo Alto Networks Cortex XSOAR Marketplace. Cyren Inbox Security pack is thus now available on the industry’s largest and most comprehensive security orchestration marketplace. Along with process improvement and automation, the Inbox Security Pack provides a fully optimized approach to address phishing and business email compromise. Furthermore, the offering also provides email-borne threat detection, remediation, and response automation to security teams.

    According to CYRN’s CRO, Lior Kohavi, the risks of phishing and BEC scams keep on increasing day by day. This is causing a loss of billions of dollars to organizations around the world. So, it is of utmost importance to address the issue with solutions like Cyren Inbox Security Pack and the like.

    CYRN’s Q3 Overview

    In the third quarter of 2021, the company had $7.5 million in revenues against $9.1 million in the year-ago period.

    Additionally, CYRN had a non-GAAP net loss of $4.3 million in Q3 2021, against $2.9 million in Q3 of 2020. Resultantly, the non-GAAP net loss per basic and diluted share was $0.06 and $0.05 in Q3 of 2021 and 2020, respectively.