Siyata Mobile Inc. (NASDAQ: SYTA) Enters a Transformative Partnership with a NYSE listed distribution partner that May Increase Revenues by Triple Digits
Good day everyone,
Siyata Mobile Inc. (NASDAQ: SYTA), is a Business-to-Business (B2B) global vendor of next generation Push-To-Talk over Cellular (PoC) devices and cellular booster systems.
Current price $3.42/share (at market close 11-26-21)
SYTA is a provider of state-of-the-art communication devices and cellular boosting systems primarily for first responders. I’ll talk more about that below but first let’s discuss why SYTA shares indicate potential for a near gain in value.
I looked at the company stock chart and realized this may be a “buy the dip” opportunity. The shares have fallen below their 20 SMA of $3.91, their 50 SMA of $3.62, and their 200 SMA of $7.22. After bottoming out on October 22 at $2.65/share, SYTA shares spiked as high as $9.68 and have been looking for a new level since then. I believe the new trading level for SYTA shares may be established in the near term and will be significantly higher than today’s price, and I want to outline the reasons why:
Let’s first look at the company’s tiny share structure. There are only 5.03M shares outstanding and 4.85M shares in the public float.
Analysts covering SYTA have reached a consensus price target of $10.00/share.
Over the past year, SYTA shares have experienced seven “dips” with each one followed by double and triple digits gains, and I believe they may be positioned for another.
The partnership with a NYSE Listed Distribution Partner (more on that below) could become a significant catalyst for the company’s value.
Last week, an article was published on Yahoo Finance covering the company’s Q3 results, and the author (a CFA) concluded:
“We reach a $10.00 stock price by applying the peer group average of 2.7x EV/Sales 2022. Compared to SYTA trading at 1.3x our 2022 Sales estimate & 2.4x our 2021 Sales estimate.” The article estimated 2022 revenues to remain close to 2021 revenues.
I read a proprietary article on SYTA, published on November 21st, that was expanding on a new partnership, briefly mentioned in the CFA report mentioned above. I will provide excerpts:
Headline – Siyata Mobile (NASDAQ: SYTA) unveils landmark partnership with a NYSE Listed Distribution Partner Solutions to expand new SD7 MCPPT rugged handset device globally.
Under the agreement, NYSE Listed Distribution Partner was named a non-exclusive marketing and distribution partner for the new SD7 device. As a result, Motorola will begin marketing the SD7 device globally and will focus on sales through direct channels and partnerships with national cellular carriers in North America.
Siyata and a NYSE Listed Distribution Partner collaboration on the SD7 extends beyond the recent agreement. Engineers from the two companies have been working closely together over the past nine months on the SD7’s development.
Based on early discussions with a NYSE Listed Distribution Partner and national cellular carriers, Siyata Mobile estimates SD7 sales volume could come between 30,000 and 100,000 units per year, once in full production. This estimate would translate into a potential revenue range of $10 million to $30 million in revenue for Siyata beginning in 2022.
Push-to-talk (PTT) devices are estimating strong growth over the next several years as a result of demand from commercial customers and first responders. According to MarketsandMarkets, the global PTT market is estimated to be worth $38.4 billion by 2024, up from $25 billion in 2019. This represents a compound annual growth rate (CAGR) of 9% through 2024.
The NYSE Listed Distribution Partner doesn’t seem to have an MCPPT offering of its own like the SD7. They have an app for a cell phone that will make a phone do some of the same functions as SD7. The thing is cell phones cost $1,000 and the SD7 costs $300. Cell phones are fragile and would be difficult to protect in many first responder situations, the SD7 is a rugged device. Maybe, the new partnership between SYTA and NYSE Listed Distribution Partner will be a benefit for the NYSE Listed Distribution Partner as well, giving them a product to compete with in the first responder market.
The SD7 – The SD7 is a rugged, simple, and highly functional MCPTT device designed to revolutionize the way first responders and emergency personnel communicate with each other.
4G/LTE – High Speed Data – up to 150 Mbps
3,600mAh – Large capacity replaceable battery pack
PTT – Push-to-talk over cellular
I wanted to cover the news about the NYSE Listed Distribution Partner in this report because it’s a transformative event and may be a major catalyst for the company value. In fact, I believe it may be the biggest development in the company’s history. Stay tuned for a full report on SYTA, there is more to say about other products in their pipeline and the new SD7.
The Traders News Group
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