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Tag: SYTA stock

  • Siyata (SYTA) Stock Gains Momentum After Securing Key Order

    Siyata (SYTA) Stock Gains Momentum After Securing Key Order

    Shares of Siyata Mobile Inc. (NASDAQ: SYTA) experienced a sharp rise of 14.39%, reaching $5.62, following the announcement of a significant new order. SYTA disclosed securing a deal to supply several thousand SD7 handsets and related accessories to a prominent transit authority in the western United States.

    The New Partnership

    The deal marks a key milestone in Siyata Mobile’s ongoing expansion within the transit and public works sectors across the country. The transit authority, which handles tens of millions of passengers every year, is updating its communication systems by using Siyata’s Push-to-Talk over Cellular (PoC) technologies to replace antiquated radio-based infrastructure.

    Another Joint Venture

    Siyata Mobile has strengthened its market position by working with JVCKenwood USA in addition to this order. Through this partnership, its SD7 handsets will be marketed under the Kenwood brand, targeting JVCKenwood’s channel partners and critical business customers.

    The Safety & Security Sector of JVCKenwood USA introduced these PoC handsets as part of their offerings for enterprise and public service workers, enabling instant communication via a nationwide cellular network. JVCKenwood’s extensive distribution network of thousands of dealers across North America is set to further amplify the reach of Siyata Mobile’s devices.

    Advancing Communication Technology

    JVCKenwood has a long history of providing its clients with state-of-the-art communication solutions. It is anticipated that the addition of Siyata’s PoC technology to JVCKenwood’s LMR portfolio would enhance operational safety and communication dependability in emergency scenarios. The partnership signifies a shared commitment to providing innovative communication tools for essential sectors.

    Stock Performance and Industry Insights

    As of now, SYTA stock is listed as “Undervalued” on our ST screeners, with other companies like VISL and ANVW also showing promising valuations. For investors, the Communication Equipment industry presents diverse opportunities for growth. A detailed list of undervalued stocks in the industry is available through our screener for better investment opportunities.

  • Siyata (SYTA) Sees Significant Surge Following Partnership Announcement

    Siyata (SYTA) Sees Significant Surge Following Partnership Announcement

    Siyata Mobile Inc. (NASDAQ: SYTA) shares are experiencing significant pre-market growth today, following the announcement of a new strategic alliance. As of the latest update, SYTA stock has surged by 45.32% on the US stock market, reaching a trading price of $2.02.

    New Partnership With JD Telecom

    Siyata Mobile (SYTA) and JD Telecom, a top supplier of commercial-grade car solutions and T-Mobile’s strategic distribution partner, have announced their partnership. The purpose of this collaboration is to improve the availability of Siyata’s SD7 phones, VK7 vehicle kits, and associated parts.

    To address the increasing demand for its Push-to-Talk Over Cellular (PoC) devices, Siyata will be assisted by JD Telecom, which is well-known for its proficiency in cellular car solutions. It is anticipated that this calculated action would increase unit sales and draw in new clients.

    Synergistic Collaboration And Product Integration

    JD Telecom’s products, widely installed through strategic partners in industries such as commercial transportation, waste management, ready-mix concrete, education, public transit, field services, and construction, will now feature Siyata’s SD7 Handset and VK7 Vehicle Kit.

    These products were selected for their high performance, ease of use, and seamless integration with JD Telecom’s existing solutions. The collaboration will focus on pursuing cross-selling opportunities for both companies and leveraging the strengths of their product offerings.

    Innovation And Patent Recognition

    In a recent development, the company was awarded a new patent by the United States Patent and Trademark Office (USPTO) for its VK7 Vehicle Kit, patent number US 11,949,442 B2, titled “Mobile Conversion Apparatus For Docking Cellular Data Devices.”

    This patent underscores the innovative nature of Siyata’s products and highlights the skill and dedication of its research and development team. The VK7 Vehicle Kit had previously received patent protection in China.

    These patents are strategically filed in key markets to support SYTA;’s vision for global expansion and to protect its intellectual property from unauthorized use. The VK7, when paired with the SD7 device, offers a radio-like experience for vehicle Push-to-Talk (PTT) calls.

    Siyata is committed to becoming a global leader in the PoC category, with its innovative, patent-protected products providing a significant competitive edge.

  • Siyata Mobile (SYTA) Shares Rebound Following Major Order

    Siyata Mobile (SYTA) Shares Rebound Following Major Order

    Shares of Siyata Mobile Inc. (NASDAQ: SYTA) have experienced a notable recovery in the US market following the announcement of a substantial order. As of the last check in current-market session, Siyata Mobile’s stock had surged by 29.33%, reaching a value of $1.94.

    Significant Order From Lancaster Public Utilities Department

    Siyata Mobile (SYTA) revealed it has secured an order from the City of Lancaster Public Utilities Department for its SD7 Push-to-Talk (PTT) handsets, VK7 Vehicle Kits, and associated accessories. The Public Utilities Department, serving the residents of Lancaster, Ohio, selected the SD7 handset due to its durability, user-friendly interface, and demonstrated ability to deliver both cost efficiency and operational advantages.

    The SD7 handset’s capabilities exceed those of traditional land-to-mobile technologies, making it an ideal choice for utility field operations, which often occur in challenging environments where dependable communication is essential for service restoration and maintenance tasks.

    The Lancaster Department of Transportation also opted for the SD7 unit and the VK7 Vehicle Kit, appreciating the flexibility of utilizing high-performance PTT communication either as a rugged handheld device or as a docked unit within their vehicles. The handset’s straightforward functionality, comparable to that of two-way radios, makes it an appropriate choice for staff already familiar with radio systems.

    Introduction Of SD7 Wired Palm Mic Pro With AI Noise Cancellation

    In a recent development, Siyata Mobile introduced the SD7 Wired Palm Mic Pro, featuring advanced AI noise cancellation technology. This cutting-edge device, compatible with the Company’s SD7 Handset, incorporates pioneering features that enhance its performance beyond simple noise reduction.

    The SD7 Wired Palm Mic Pro uses sophisticated AI to adjust microphone levels dynamically, ensuring clear transmission of the human voice while effectively suppressing background noise, whether constant or fluctuating. This technology also equalizes voice levels, maintaining consistent conversation quality regardless of the speaker’s distance from the microphone.

    Additionally, Siyata Mobile provides the VK7 Wired Palm Mic Pro with AI noise cancellation, extending this innovative technology to first responder vehicles and enterprise vehicles equipped with the Siyata VK7 Vehicle Kit.

  • $20M Public Offering: Siyata Moblie Inc. (SYTA) stock Collapse Premarket

    Siyata Moblie Inc. (SYTA) announced the pricing of a $20 million underwritten public offering on January 06, 2021. Consequently, the stock collapsed in the premarket session on Friday.

    In the previous regular session, the stock barely kept in the green with a slight gain of 0.62%. After closing the session at $3.23, SYTA plunged deep by 42.72% premarket, at the last check. Hence, the stock was trading at $1.86 apiece at the time of writing in the premarket.

    The cellular communications systems provider, Siyata Moblie Inc. has a market capitalization of $16.14 million. Currently, the company has 5.03 million shares outstanding in the market. Moreover, SYTA has lost 12.70% in the past five days, while losing 69.47% in the past year.

    SYTA’s Public Offering

    On Thursday, the company announced a public offering of 8,695,652 of its common shares along with the warrants for their purchase. The combined effective offering price of each common share together with one warrant is $2.30. While the common share and warrant can only be bought together, they would be separable promptly upon issuance.

    Besides the original offering, the SYTA also offered a 45-day option to the underwriters for buying additional 1,304,347 common shares at the offering price. Furthermore, the expected close of the offering is on or about January 11 as per customary closing conditions.

    The expected gross proceeds from the offering are $20 million approx., less discounts, and commissions. SYTA will be using some of the proceeds for repaying a portion of its outstanding senior secured convertible promissory note. The remaining proceeds from the offering are intended for general corporate purposes.

    The sole book-running manager for the offering in Maxim Group LLC.

    $1.3M Purchase Order

    On December 07, the company announced receiving a $1.3 million purchase order for its SD7 ruggedized devices, VK7 vehicle units, and other accessories. This purchase order is essentially for police and first responder customers in the EMEA (Europe, the Middle East, and Africa). As a result, the year-to-date DS7 and VK7 orders reached $1.8 million.

    The DS7 is a PPT (Push-to-Talk) ruggedized, LTE, Wi-Fi, and Bluetooth-enabled, easy-to-use device. Additionally, the VK7 is a first-of-its-kind car kit with an integrated speaker, slide-in connection sleeve the SD7.

    SYTA’s Financials

    On October 14, the company announced its financial results for the second quarter of 2021. According to this, SYTA had a net loss of $10,862,538 on revenue of $4,388,954 in the second quarter of 2021. This compares to a net loss of $627,004 on revenue of $4,414,031 in the year-ago period.