(NASDAQ: SYTA) A Whale in the Ocean of Possibilities
DENVER, Colo., Dec 21, 2023 (247marketnews.com)- Companies mentioned; Siyata Mobile (NASDAQ:SYTA), Smart for Life Inc (NASDAQ:SMFL), ParaZero Technologies (NASDAQ:PRZO), Polished.com Inc (AMEX:POL), Panbela Therapeutics (NASDAQ:PBLA), and Applied UV (NASDAQ:AUVI).
As you know, low priced Nasdaq stocks can change valuations in a flash, and often do. Their intraday value can be determined by algorithmic waves and traders’ whims that move the markets and volume/price action flows, as technical indicators and bull flags can guide a listing’s outcome.
In this vast ocean of small cap companies, there exists a subset of listings that often thrust upwards over time. The micro float stocks that fit his bill typically used their initial IPO funds to build their operation’s foundation and then recapitalize, do that their future metrics will drive investor value and share growth.
(NASDAQ:SYTA) is one such company, currently trading under $5 with a market cap of around $2 million at the recent $3.70 price.
The company’s enterprise value is currently $2.91 million, which begins to quantify its current undervaluation, as it shifts its focus to growth and profitability.
Reading the tea leaves isn’t necessary here, as the CEO recently stated, “Our number one goal in 2024 is to ramp up sales and reach profitability, which we are confident can be achieved. Based on our projected sales and carrier incentives, we are forecasting large-scale opportunities in different verticals including first responders, education, health care, security, utilities, hospitality and more.”
The CEO further stated, “The Company’s solutions address a multi-billion-dollar market, and we have an exciting roadmap ahead of us including the addition of 5G devices to ensure that we stay ahead of the market to maximize shareholder value.”
So what changed?
Siyata recently recapitalized and reorganized, and successfully completed some shareholder friendly business model improvements. For example, they switched from paying for the equipment out of pocket, which resulted in share price killing fundings, to their new PO financing facility, to reduce the pressure on the shares moving forward. Additionally, its carrier partners are beginning to stock their products, designed to accelerate its growth trajectory.
Great Plans lead to predictable outcomes, especially in Bull Markets.
As far as the business model improvements go, there’s no better source than the CEO, who stated, “Siyata’s vertical strategy includes expanding our sales network and product lines. Our goal of reaching profitability in the upcoming quarters is powered by the transition from nonstock to stock status with one of the top three domestic carriers, an achievement that most devices do not attain. To this end, our products are now carried by all the major US cellphone carriers and our international footprint is growing. In fact, Siyata is the smallest company, by far, that will have a stocked device at a major mobile carrier and the benefits are massive.
“Until recently, our products were ordered through the carriers and the purchaser had to pay full price up front for the delivery of our first responder equipment, putting us at a price disadvantage in a highly competitive market. The SD7 handset will move from a device with a $400 MSRP to becoming a cobranded device that benefits from the carrier’s subsidization program, where the unit only runs 99-cents upfront, with the balance factored into the monthly bill. Plus, our sales team is training that carrier’s sales force about our Push-to-talk (PTT) unit.
“We plan to garner additional support from our carrier partners and bring what we believe are the most rugged, reliable first responder communications products in the world today. Our goal is to be boxed and stocked by all the carriers at some point, which should greatly increase our sales directly from the carriers and expand our agency and business-to-business sales.
“In addition, it will make it much easier for the launch of our upcoming SD7+ which is our all-in-one bodycam push to talk communicator to gain sales traction after its upcoming 2024 launch.”
At $10 a share Siyata would still have a market cap of less than $6 million.
With less than 1 million shares outstanding, currently reported to be 558k, and tracking over $10 million in sales, analyst projections for the share price to more than double could quickly make SYTA one of the most traded sub-$15 stocks, creating waves of new investors and opportunities for savvy traders who took a position during the low tide sessions.
Fintel’s recent December 16th article, published on Nasdaq.com, included a 600% price target increase from the November $8.26 analysts’ price target, but that’s simply from not factoring in the reverse https://www.nasdaq.com/articles/siyata-mobile-syta-price-target-increased-by-600.00-to-57.83. However, the article includes valuable nuggets that could be great news for investors, including the institutional position reduction in the stock has dropped by about 90%, to less than 100,000 shares.
These numbers conclude that institutions who bought into the last funding round have already divested themselves of their shares, with the largest holder Concord Wealth partners holding only 10k of the previously disclosed 992k.
With institutions holding such a small percentage of shares, and the recent recapitalization leaving the float with less than 600k, the company’s trajectory can be decidedly put into the hands of individual stakeholders and traders. As of December 5th, the stock has traded 1,619,718 shares with the price consolidating over $3.0 and a median price of $3.61 a share.
Last week, SYTA closed above the 20-day simple moving average for the first time in over two months and that has been a support level since. Plus, its RSI and MACD are strengthening, but both have plenty of room to grow.
How deep is that micro float stocks ocean that we mentioned earlier?
Every week we feature multiple micro floats that are among the leading gainers. In fact, this dynamic is currently producing more top daily gainers than all others combined.
Today, it may end up being ParaZero Technologies Ltd. (NASDAQ:PRZO), which is reporting 10.69M shares outstanding and 2.36M in the float. It is trading at $1.82, up $0.59 (+47.97%), in this morning’s premarket, after closing yesterday at $1.23, up $0.5299 (+75.69%), on 128.7M shares traded, but that wasn’t close to being good enough to make it yesterday’s top performer.
Yesterday, it was Polished.com Inc (AMEX:POL), which has a reported 2.11M shares outstanding and 2.07M shares in the float. After hitting a 52-week low of $1.06, this week, we alerted our readers that it was on the move and it went on to hit a high of $10.85, by midafternoon trading, before it closed at $7.61, up $6.55 (+617.92%), on 129.5M shares traded.
Last week you could have picked up as many Panbela Therapeutics’ (NASDAQ:PBLA) 5.13M outstanding shares as you wanted for under 50-cents. We spotted this week’s move Monday morning, when it was trading at $0.525, up $0.07 (+14.85%), on 10M shares. Tuesday it closed at $1.57, up $0.56 (+55.45%), on 90.8M shares traded, after hitting $1.90 that morning.
Applied UV (NASDAQ:AUVI) shares could have been snapped up for less than $1.50 on Monday, but some traders were selling for $3.00 yesterday. These moves are common for these tightly held listings, as Applied UV’s 554.12K shares outstanding and 534.02K shares in the float makes it a classic micro float runner.
It’s not too late to pick up some SYTA stocking stuffers and, until next time, we wish you a Merry Christmas and a Happy New year.
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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.