Is Siyata Mobile Inc. (SYTA) positioned for future growth?

Siyata Mobile Inc. (NASDAQ: SYTA) stock jumped 2.16% on Monday to $0.17 against a previous-day closing price of $0.17. With 3.97 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.18 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $0.1800 whereas the lowest price it dropped to was $0.1637. The 52-week range on SYTA shows that it touched its highest point at $1.62 and its lowest point at $0.11 during that stretch. It currently has a 1-year price target of $1.25. Beta for the stock currently stands at 1.59.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SYTA was down-trending over the past week, with a drop of -17.93%, but this was up by 14.77% over a month. Three-month performance surged to 21.56% while six-month performance fell -79.87%. The stock lost -87.51% in the past year, while it has gained 14.25% so far this year. A look at the trailing 12-month EPS for SYTA yields -1.59 with Next year EPS estimates of -0.25.

Float and Shares Shorts:

At present, 44.87 million SYTA shares are outstanding with a float of 44.08 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.09 million, which was 6.11% higher than short shares on Sep 14, 2022. In addition to Mr. Marc L. Seelenfreund as the firm’s Pres, CEO & Director, Mr. Gerald Bernstein serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 6.14% of SYTA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 10.38% of SYTA, in contrast to 0.11% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in SYTA with 6.15% of the stake, Heights Capital Management, Inc. holds 1,100,000 shares worth 1,100,000. A second-largest stockholder of SYTA, Excellence Investments Ltd., holds 650,000 shares, controlling over 3.64% of the firm’s shares. Virtu Financial BD LLC is the third largest shareholder in SYTA, holding 56,873 shares or 0.32% stake. With a 0.11% stake in SYTA, the Fidelity Nasdaq Composite Index F is the largest stakeholder. A total of 19,350 shares are owned by the mutual fund manager. The GWL Growth Equity Fund, which owns about 0.01% of SYTA stock, is the second-largest Mutual Fund holder. It holds 1,062 shares valued at 162.0. London Life Growth Equity Fund holds 0.00% of the stake in SYTA, owning 0 shares worth 0.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SYTA since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SYTA analysts setting a high price target of $0.50 and a low target of $0.50, the average target price over the next 12 months is $0.50. Based on these targets, SYTA could surge 194.12% to reach the target high and rise by 194.12% to reach the target low. Reaching the average price target will result in a growth of 194.12% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SYTA will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.25 being high and -$0.68 being low. For SYTA, this leads to a yearly average estimate of -$0.49. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Siyata Mobile Inc. surprised analysts by $0.16 when it reported -$0.03 EPS against a consensus estimate of -$0.19. The surprise factor in the prior quarter was -$0.10. Based on analyst estimates, the high estimate for the next quarter is -$0.03 and the low estimate is -$0.10. The average estimate for the next quarter is thus -$0.07.

Summary of Insider Activity:

Insiders traded SYTA stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 90,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 360,000 while 0 shares were sold.

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