Concord Wealth Partners LLC recently announced the acquisition of new stake in Siyata Mobile Inc. (NASDAQ:SYTA). The institutional investor has increased its shareholding in the Technology company by 42.12% to 0.99 million shares with purchase of 0.29 million shares. This fresh investment now brings its stake to 5.55% valued currently at $0.11 million. In addition, HighTower Advisors LLC raised its holdings by 0.14 million to 0.14 million shares.
With over 1.58 million Siyata Mobile Inc. (SYTA) shares trading Monday and a closing price of $0.13 on the day, the dollar volume was approximately $0.21 million. The shares have shown a negative half year performance of -20.01% and its price on 05/22/23 gained nearly 2.37%. Currently, there are 39.50M common shares owned by the public and among those 32.91M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SYTA have a consensus price objective of $0.50. The analysts have set the share’s price value over the next 12 months at a high of $0.50 and a low of $0.50. But an upside of 74.0% will see the stock hit the forecast high price target while median target price for the stock is $0.50.
Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 90,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Siyata Mobile Inc. are Fidelity Nasdaq Composite Index F, GWL Growth Equity Fund, and London Life Growth Equity Fund. Fidelity Nasdaq Composite Index F owns 19350.0 shares of the company’s stock, all valued at over $2129.0. GWL Growth Equity Fund sold 269.0 shares to see its total holdings shrink to 1062.0 shares valued at over $117.0 and representing 0.01% of the shares outstanding. London Life Growth Equity Fund sold 5159.0 shares to bring its total holdings to over 0.0 shares at a value of $0.0. London Life Growth Equity Fund now owns shares totaling to 0.00% of the shares outstanding.
However, the script later moved the day high at 0.1330, up 2.37%. The company’s stock has a 5-day price change of -0.54% and -23.42% over the past three months. SYTA shares are trading -15.36% year to date (YTD), with the 12-month market performance down to -87.55% lower. It has a 12-month low price of $0.10 and touched a high of $1.62 over the same period. SYTA has an average intraday trading volume of 3.66 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.53%, -8.77%, and -49.77% respectively.
Institutional ownership of Siyata Mobile Inc. (NASDAQ: SYTA) shares accounts for 6.20% of the company’s 39.50M shares outstanding. Mutual fund holders own 0.11%, while other institutional holders and individual stakeholders account for 10.46% and — respectively.
It has a market capitalization of $9.99M and a beta (3y monthly) value of 1.48. The earnings-per-share (ttm) stands at -$1.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.54% over the week and 11.15% over the month.
Analysts forecast that Siyata Mobile Inc. (SYTA) will achieve an EPS of -$0.09 for the current quarter, -$0.06 for the next quarter and -$0.16 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.09. Comparatively, EPS for the current quarter was -$0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 69.90%, and 27.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Siyata Mobile Inc. (SYTA) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
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