NEW YORK (TheStreet) -- Shares of CYREN (CYRN) were gaining 48.5% to $2.59 Wednesday after the security software company announced a new partnership with the China-based mobile security company Bangcle.
The two companies announced that Bangcle will deploy the Virginia-based company's CYREN Embedded Antivirus and CYREN Mobile Security for Android to help protect millions of mobile phones. Bangcle's security apps shield covers more than 500 million mobile phones as of the end of November, according to the company.
"We chose CYREN's antivirus technology because our evaluation proved it offered an impressively high detection rate while consuming very little bandwidth," Bangcle CEO Tom Kan said in a statement. "Additionally, CYREN offered superior technical support and a level of customer service that not only provides peace of mind for our teams, but those of our users as well."
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TheStreet Ratings team rates CYREN LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate CYREN LTD (CYRN) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself."