Silynxcom Ltd. (NYSE: $SYNX) is a leading designer, developer, and manufacturer of tactical communication headset systems for the military, law enforcement, and industrial professionals. Their equipment is battle-tested and combat-proven.
Silynxcom Delivers Huge Repeat Order From Customer
On February 27, 2024, Silynxcom announced that it had delivered a $280 thousand repeat order for a military customer. The order was for its Clarus in-Ear headsets, which was their second order from the customer and the third overall. They revealed that thus far, the customer had purchased over $1 million worth of equipment from them.
The in-ear headset comes with a proprietary in-ear microphone that enables users to “talk from the ear.” Additionally, it features sound compression technology that offers protection from loud noises.
Commenting on the order, the Silynxcom CEO, Nir Klein, stated that the company continues to strengthen its position as a leader in tactical communications. He added that their customer base was growing rapidly, with “new companies and defense organizations from many countries around the world ordering our products and expressing their satisfaction.”
Silynxcom (SYNX) Stock Performance
SYNX shares were publicly listed on the NYSE on January 12, 2024, and the IPO closed on January 17, 2024. During the IPO, the shares were going for $4 per share. The stock’s closing price on Monday was $3.50 per share after losing 1.5% of its value during the February 26 trading session. During the morning trading session on Tuesday, February 27, the stock surged 4.1% to $3.64 per share on the news of the repeat military order.
The stock has been spiking since the start of February 2024. As of the close of trading on Monday, February 26, 2024, the stock was up 16.2791% since the start of the month. The February rise has been due to various announcements from the company for large orders for communication equipment.
Is SYNX Stock Undervalued?
Some analysts believe that the fundamentals do not support the current valuation of SYNX stock. For instance, the stock is below its IPO price of $4, despite a revenue surge since October 2023 on the back of several new contracts.
Based on the Enterprise Value/Revenue ratio of just 2.18, the Silynxcom’s stock should be much higher despite the over 16% surge in February. Based on the company’s current revenue-generating momentum, it is likely that the gap between its share price and fair value could soon close.
Another important factor to consider is that there are only 5.25 million shares outstanding, with only a few of those available in the open market.
One factor that may be holding back SYNX stock in the short term is that it is relatively new to the NYSE. Despite this, its products are well-known, and it has a longstanding reputation as a developer of high-end communication equipment.
Should You Buy SYNX Stock?
As Silynxcom’s revenue momentum continues and the post-IPO turbulence settles, SYNX stock could see a surge in price. Its fundamentals are strong, and its brand is well-known and trusted. The fresh capital injection from the IPO will also provide a boost.
It means that they could roll out even better and more attractive products. Additionally, it could provide them with the marketing muscle to get their products into the hands of customers. As such, SYNX stock could soon close the gap between its current price and the fair valuation of its potential.
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