ANTICIPATING ANALYST UPGRADES ON NASDAQ: SYTA
When lives are at stake, it’s reassuring to know your first responder is using a Siyata (SYTA) communication product, built to save lives.
SYMBOL: SYTA
THE BULL CASE FOR NASDAQ: SYTA
Recent developments create strong catalyst for Siyata Mobile (NASDAQ: SYTA) and likely to experience significant upside for forward-thinking investors. You should drop what you’re doing right now, and add this stock to your watchlist.
Upcoming Catalysts Should Increase Interest And Momentum.
Over the past year, reverse split stocks have attracted experienced traders, as the companies move on to the next phase of corporate development. Siyata raised $4+ million a few weeks ago, which means shares could be trading much higher as the company prepares for an upcoming reverse split.
There will be less dilution, and more impact with the current money raised, as sales continue to increase, and the company continues to execute its growth plan.
“Based on recent news the message is clear: the current growth trajectory, re-capitalization combined with a $4+ million raise from Maxim, indicates the company’s strong position for an upcoming bull run.”
If the catalyst signal is correct, investors and traders alike will be fighting to get shares before they go vertical.
Below we have AHI, DOMA, GFAI and PRFX pre and post-reverse.
WATCH NOW:
Siyata's (NASDAQ: SYTA) line of rugged mobile devices for first responders. Learn about Siyata's SD7 push to talk over Cellular that looks and feels like a radio.
SYTA's Stock Could Exceed Expectations Post-reverse Split
Well capitalized, and with the major telecom carriers pushing their products, the company is now prepared to build and sustain market gains. With summer coming to an end, it appears the market preparing to roar like a lion, and SYTA is a perfect situation.
*Nasdaq traded stocks tend to have an imbalance of shares available for sale after a reverse split, which can cause the stock to move up quickly. With the recent money raised, this could benefit traders who decide to buy before and immediately after the split.
The company checks several boxes for traders who are looking to take advantage of the impact capital recently raised. The company completed a $20 million initial public offering and used the capital to build out the current infrastructure. An additional $4+ million raised in June gives the company runway to add shareholder value and growth before needing additional capital.
The reverse will likely have hedge funds and short sellers attempting to “guess” the top once the stock starts to move, however, with the company currently sitting on millions in cash, and incoming orders, it could delay their ability to cover in a timely manner, causing another of this year’s notable short squeezes.
SYTA IS WHAT WE CALL A HIGH-PROBABILITY SETUP.
The market is loaded with novice short sellers which have been causing some of the biggest squeezes in the stock market over the last 2 years.
ANALYSTS HIGHLIGHTS
According to Maxim’s analyst report, expectations are 2023 revenue will be up more than 100% to $13 million, and is expecting 2024 to be $24 million. It’s likely with the reverse and raise Maxim will be releasing a “buy” signal in the coming weeks, as their concerns in the most recent June report have been alleviated, and they continue to put millions of investor dollars to work on this brand.
Recommendation: At 0.3x our 2024 revenue estimate, we maintain our Hold rating as we continue to have concerns regarding the company’s current stock price, liquidity levels, and ongoing dilution, but we remain positive about the company. Cost-competitive product portfolio and major wireless carrier partnerships in North America as well as recent purchase order volumes. All said, we believe the risk/reward profile is balanced, and therefore, believe a Hold rating is justified.
The end of May saw Fundamental Research Corp. continue with a “Buy” rec on the stock indicating that “fair value” is almost 400% higher than the current price. The parameters of this report will likely change post-reverse, however, the fundamental basis for their analysis should improve significantly for future investors.
Zack’s Small-Cap research In June also indicates the stock could be worth more than 7 times today’s current price, and post-split the basis for these numbers should also improve.
The company has been covered by analysts, traders, and influencers, and undoubtedly already has a significant following of market participants waiting for the company to put out news.
The company has been active in investor communications over the past year, and I believe, as you can see by reading this report, it will continue to do what it takes to create value for its shareholders. A quick YouTube or Google search and you can find some of their previous advocates.
CORPORATE REASONS TO CONSIDER - NASDAQ: SYTA
Siyata Mobile Inc. is a leading global developer and provider of cellular communications systems for enterprise customers and first responders, specializing in connected vehicle products for professional fleets. Since developing the world’s first 3G-connected vehicle device, Siyata has been a pioneer in the industry, launching the world’s first 4G LTE all-in-one fleet communications device.
SYTA targets vehicle fleets, ambulances, school buses, police vehicles, utility fleets, industrial and residential customers, and large enterprise wireless carriers around the world.
Siyata’s new SD7+ cellular body-cam device expands the TAM opportunity. On 10/26/22, SYTA announced the SD7+ rugged mission-critical push-to-talk (PTT) device in collaboration with Visual Labs’ (private) body camera software. The SD7+ has all the functionality of the SD7 with an added wide-angle camera that has live-streaming capabilities via 4G LTE networks for critical incidents.
Approximately 1.27M body cams were shipped globally in 2021, with the largest market in North America (~485K units). We speculate the potential commercialization of the SD7+ in 2H23 or early 1H24. Furthermore, partnerships with body camera software providers will create a potential recurring revenue stream in addition to the recurring revenue created by Siyata’s new Real Time View video monitoring solution.
The original SD7 product represents a growth catalyst, in our view. The SD7 is a ruggedized handset that is designed specifically to support 3GPP-standard MCPTT and other PTT-over cellular (PoC) offerings in a small form factor at a competitive price point. The SD7, which does not have a touchscreen, features a dedicated push-to-talk button and the ability to support all forms of PoC–MCPTT, carrier-integrated PoC, and over-the-top PoC applications. According to management, recently announced partnerships with the major wireless carriers have the potential to generate annual revenues of $10M-$30M per partner.
Specifically in the U.S. markets, SYTA has fully integrated the SD7 into the AT&T & FirstNet network, the Verizon network, US Cellular, and the T-Mobile network, which will market the SD7 to a wide range of verticals including police, fire stations, ambulances, security companies, amusement parks, hospitality, waste management, bus drivers, and more.
If the company’s current trend continues, they should have imminent news about upcoming orders.
I look for NASDAQ:SYTA to be in play for the foreseeable future.
As always trade responsibly, use stop losses, and be opportunistic in your entry.
Editor
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