Siyata Mobile (NASDAQ:SYTA) Shares Down 8.7%

Siyata Mobile Inc. (NASDAQ:SYTA – Get Rating)’s share price fell 8.7% on Friday . The stock traded as low as $0.16 and last traded at $0.17. 6,586,079 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 9,371,405 shares. The stock had previously closed at $0.19.

Analyst Ratings Changes

Separately, Fundamental Research set a $0.75 price target on shares of Siyata Mobile and gave the company a “buy” rating in a report on Wednesday, December 28th.

Siyata Mobile Price Performance

The company’s fifty day moving average price is $0.17 and its 200 day moving average price is $0.42. The company has a market capitalization of $2.59 million, a P/E ratio of -0.10 and a beta of 1.71. The company has a quick ratio of 1.03, a current ratio of 2.16 and a debt-to-equity ratio of 0.05.

Siyata Mobile (NASDAQ:SYTA – Get Rating) last announced its quarterly earnings data on Thursday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.09. The business had revenue of $2.57 million for the quarter, compared to analysts’ expectations of $3.68 million. Siyata Mobile had a negative net margin of 232.65% and a negative return on equity of 136.92%. As a group, sell-side analysts forecast that Siyata Mobile Inc. will post -0.68 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SYTA. Jane Street Group LLC bought a new position in Siyata Mobile in the first quarter valued at approximately $30,000. Virtu Financial LLC bought a new position in Siyata Mobile in the first quarter valued at approximately $68,000. Finally, Bank of America Corp DE bought a new position in Siyata Mobile in the first quarter valued at approximately $31,000. 5.12% of the stock is owned by institutional investors.

Siyata Mobile Company Profile

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Siyata Mobile Inc develops and provides cellular communications solutions for enterprise customers. It provides connected-vehicle devices and various accessories that are designed for professional fleets, such as trucks, vans, buses, ambulances, government cars, and others. The company also develops, markets, and sells rugged Push-To-Talk (PTT), mobile devices, cellular amplifiers, and various accessories.