Share Repurchase Program Initiated by Cycurion (NASDAQ:CYCU) Board

Cycurion (NASDAQ:CYCU) announced that its Board of Directors has authorized a stock repurchase program on Monday, August 17th, RTT News reports. The company plans to buyback $500.00 billion in shares. This buyback authorization allows the company to purchase up to 6,361,323.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CYCU shares. Weiss Ratings cut Cycurion from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Cycurion from a “strong sell” rating to a “hold” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.00.

Cycurion Trading Down 5.7%

Shares of NASDAQ CYCU opened at $0.69 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.31 and a current ratio of 0.30. Cycurion has a 52-week low of $0.26 and a 52-week high of $15.88. The firm has a 50 day moving average price of $0.59 and a two-hundred day moving average price of $1.03. The stock has a market cap of $7.91 million, a P/E ratio of -0.22 and a beta of 0.97.

Cycurion (NASDAQ:CYCU) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.15. Cycurion had a negative net margin of 98.83% and a negative return on equity of 98.55%. The company had revenue of $3.76 million for the quarter. As a group, equities analysts forecast that Cycurion will post -2.34 EPS for the current year.

About Cycurion

Cycurion is a global leading provider of Network Communications and Information Technology Security Solutions. Our mission is to develop and deliver world-class, cutting-edge solutions for our clients, regardless of size or complication, expressly optimizing your IT environment to meet the business need and to keep projects on track and on budget.