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Does Penny Stock CYREN Belong in Your Portfolio? By StockNews

by Mike Robinson

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© Reuters. Is Penny Stock CYREN in Your Portfolio?

Cyren (NASDAQ) is an Israeli cybersecurity company. With Cyber Inbox Security, it has completed several product development projects. However, CYRN’s shares have declined in price over the past few months. So, let’s evaluate if it is wise to scoop up its shares now. Continue reading. Cyren Ltd. is based in Herzliya (Israel), and develops and markets information security solutions that protect web, e-mail and mobile transactions. Its offerings include Cyber Intelligence Suite and CYREN EmailSecurity, and its customers include industry-leading companies such as Microsoft Corporation (NASDAQ:) and Alphabet Inc.’s (NASDAQ:) Google. However, the penny stock has lost 50.9% in price over the past year and 21.1% over the past month to close yesterday’s trading session at $0.47.

CYRN reported on October 6th that the Nasdaq Capital Market had written it advising it that it must regain compliance by April 4th 2022 with its minimum bid price. Additionally, the company is selling shares. It plans to use proceeds from the sale for working capital as well as the repayment of outstanding debt.

CYRN successfully completed a private sale of around 14 million ordinary shares, on September 20. This transaction may result in share dilution. So, CYRN’s near-term prospects look uncertain.

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