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.
