Siyata Mobile Inc. (NASDAQ:SYTA) Sees Significant Drop in Short Interest

Siyata Mobile Inc. (NASDAQ:SYTA) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 312,800 shares, a decrease of 29.8% from the August 31st total of 445,500 shares. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Siyata Mobile

An institutional investor recently bought a new position in Siyata Mobile stock. XTX Topco Ltd bought a new position in Siyata Mobile Inc. (NASDAQ:SYTA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 69,878 shares of the company’s stock, valued at approximately $207,000. XTX Topco Ltd owned about 0.79% of Siyata Mobile as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 9.87% of the company’s stock.

Siyata Mobile Trading Down 6.4%

Siyata Mobile stock opened at $3.02 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.38 and a quick ratio of 2.88. Siyata Mobile has a one year low of $0.93 and a one year high of $29.20. The stock has a market capitalization of $26.80 million, a PE ratio of -0.12 and a beta of 2.03. The business’s fifty day moving average is $11.40 and its 200 day moving average is $10.98.

Siyata Mobile (NASDAQ:SYTA) last released its quarterly earnings data on Thursday, August 14th. The company reported ($2.48) EPS for the quarter, beating the consensus estimate of ($8.86) by $6.38. Siyata Mobile had a negative return on equity of 186.67% and a negative net margin of 144.50%.The company had revenue of $2.04 million for the quarter, compared to analysts’ expectations of $4.13 million.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SYTA. Weiss Ratings reissued a “sell (e+)” rating on shares of Siyata Mobile in a research report on Saturday, September 27th. Wall Street Zen raised shares of Siyata Mobile from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Siyata Mobile Company Profile

Siyata Mobile Inc engages in the development and sale of cellular-based communications platform in the United States, Canada, Europe, Australia, the Middle East, and internationally. It develops, markets, and sells rugged handheld Push-to-Talk over Cellular smartphone devices for first responders, enterprise customers, construction workers, security guards, government agencies, utilities, transportation and waste management, amusement parks, and mobile workers in various industries.