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Siyata Mobile (NASDAQ:SYTA) stock is attracting attention from traders on Tuesday thanks to news of new orders for its devices.
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A press release from Siyata Mobile highlights a $1.3 million purchase order for the company’s devices. That includes its “SD7 ruggedized devices, VK7 vehicle units and other accessories.”
According to Siyata Mobile, the majority of these devices will go to police and first responder customers in Europe, the Middle East, and Africa. The company notes that this brings total orders for the SD7 and VK7 to more than $1.8 million year-to-date.
But what exactly are these devices being sold by Siyata Mobile? The SD7 is a Push-to-Talk device that runs on Android. It features a monochrome screen, PTT key, SOS key, volume rockers, as well as LTE, Wi-Fi, and Bluetooth support.
Next up is the VK7, which is a car kit. It includes an integrated 20-watt speaker and a slot for the SD7 to slide into for use. It also comes with an external antenna connection for use with traditional radio devices.
Marc Seelenfreund, CEO of Siyata Mobile, said the following in the news releasing boosting SYTA stock.
“Both the SD7 and VK7 products were recently launched, so we are gratified to see increasing adoption of our innovative cellular products and related accessories. Moreover, we expect this adoption trend to continue, given the unique technical capabilities of our product portfolio and the value-proposition they represent to enterprise and first-responder customers.”
News of the purchase order has SYTA stock seeing heavy trading today. As of this writing, more than 50 million shares of the stock have changed hands. That’s an impressive jump over the company’s daily average trading volume of about 3.2 million shares.
SYTA stock is up 125.2% as of Tuesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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