Siyata Mobile Inc (NASDAQ: SYTA), a developer and vendor of Push-to-Talk over Cellular handsets and accessories, said this week it had received a purchase order for 1,000 units of its UV350 all-in-one in vehicle fleet communication devices from an international EMS provider.
Deliveries of the devices are expected in the first quarter of 2024, Siyata Mobile said.
”Serving the First Responder vertical is foundational to our business, and this order reinforces our prominent position within the space. Our UV350 is essentially a smartphone that is specifically designed for fleet vehicles to optimize mobile communications while driving,” Marc Seelenfreund, Siyata’s Chief Executive Officer, said in a press release.
”We are pleased to add this international organization to our growing customer list and increase the geographic diversity of our revenue sources. Expansion of our dealer network, steady order flow and a growing pipeline of new, identified sales opportunities are the building blocks to achieving our number one goal in 2024 of aggressively ramping up sales and reaching profitability in the coming quarters,” the CEO added.
Stock Performance
The shares of Siyata Mobile Inc (SYTA) closed 0.90% ($0.03) lower at $3.28 on Nasdaq on Thursday, as they extended the loss from the previous market session.
The company’s total market cap now stands at $1.829 million.
The shares of Siyata Mobile Inc (SYTA) have retreated 22.09% so far this year, following another 96.07% loss in 2023.
Analyst stock price forecast and recommendation
According to MarketWatch, at least 1 surveyed investment analyst had rated Siyata Mobile Inc’s stock as “Hold”. The median price target on the stock stands at $7.00, which translates into a 113.41% upside compared to the closing price on Thursday.
The high point of the analyst forecast range stands at $7.00.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
