Cycurion (CYCU) said Wednesday that it will not implement a 7-for-1 reverse stock split, noting that it would not be in the best interest of its shareholders at this time.

The company said that while another split "might create a brief optical improvement," it would be followed by renewed pressure that could push the stock back down.

Additionally, Cycurion said that its stock has been the target of trading activity inconsistent with fair and orderly markets.

The company said it intends to pursue parties responsible for improper trading and market manipulation, adding that it is in contact with Nasdaq regarding such trading activity.

Shares of the company were down 10.9% in Wednesday's trading.

Price: 0.47, Change: -0.06, Percent Change: -11.51