Short Interest in Siyata Mobile Inc. (NASDAQ:SYTA) Drops By 20.7%

Siyata Mobile Inc. (NASDAQ:SYTA) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totaling 544,800 shares, a decline of 20.7% from the July 31st total of 686,600 shares. Based on an average trading volume of 2,250,000 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 2,250,000 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Siyata Mobile from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd.

Siyata Mobile Trading Up 10.4%

Siyata Mobile stock opened at $2.66 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. The company has a market capitalization of $23.66 million, a price-to-earnings ratio of -0.10 and a beta of 2.06. Siyata Mobile has a one year low of $0.93 and a one year high of $29.20. The company’s fifty day moving average price is $3.47 and its two-hundred day moving average price is $2.76.

Siyata Mobile (NASDAQ:SYTA) last posted its earnings results on Thursday, August 14th. The company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($2.22) by $1.60. The firm had revenue of $2.04 million for the quarter, compared to the consensus estimate of $4.13 million. Siyata Mobile had a negative net margin of 144.50% and a negative return on equity of 186.67%.

Hedge Funds Weigh In On Siyata Mobile

An institutional investor recently bought a new position in Siyata Mobile stock. Bank of Montreal Can purchased a new stake in shares of Siyata Mobile Inc. (NASDAQ:SYTA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 25,000 shares of the company’s stock, valued at approximately $74,000. Bank of Montreal Can owned about 0.28% of Siyata Mobile as of its most recent SEC filing. Institutional investors and hedge funds own 9.87% of the company’s stock.

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.