SKYX Platforms Corp. (SKYX) – What Are Researchers Thinking About This Stock?

SKYX Platforms Corp. (NASDAQ:SKYX) has received an average rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $4.67.

SKYX has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research report on Friday, July 17th. Wall Street Zen upgraded SKYX Platforms from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Finally, Lake Street Capital dropped their price target on SKYX Platforms from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th.

Institutional Trading of SKYX Platforms

A number of hedge funds have recently added to or reduced their stakes in the business. Byrne Asset Management LLC increased its position in SKYX Platforms by 7.2% during the 3rd quarter. Byrne Asset Management LLC now owns 153,100 shares of the company’s stock valued at $175,000 after purchasing an additional 10,300 shares during the period. Corient Private Wealth LP raised its holdings in shares of SKYX Platforms by 66.0% in the 2nd quarter. Corient Private Wealth LP now owns 709,549 shares of the company’s stock valued at $784,000 after purchasing an additional 282,149 shares in the last quarter. Susquehanna International Group LLP raised its holdings in shares of SKYX Platforms by 572.2% in the 2nd quarter. Susquehanna International Group LLP now owns 347,746 shares of the company’s stock valued at $384,000 after purchasing an additional 296,014 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of SKYX Platforms in the 2nd quarter valued at about $50,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of SKYX Platforms in the 2nd quarter worth approximately $30,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

SKYX Platforms Stock Performance

SKYX Platforms stock opened at $1.01 on Friday. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.28 and a current ratio of 1.46. The company has a market capitalization of $136.79 million, a PE ratio of -3.74 and a beta of -3,645.11. The company has a 50 day moving average price of $1.21 and a 200-day moving average price of $1.16. SKYX Platforms has a fifty-two week low of $0.95 and a fifty-two week high of $3.29.

SKYX Platforms (NASDAQ:SKYX) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $25.27 million during the quarter, compared to the consensus estimate of $24.07 million. As a group, equities analysts forecast that SKYX Platforms will post -0.22 earnings per share for the current year.

SKYX Platforms Company Profile

SKYX Platforms Corp. is a technology company focused on making residential and commercial properties smarter, safer and more connected. Its platform is designed to simplify the installation and use of smart-home technology by integrating connectivity and automation capabilities into common electrical and lighting products.

The company develops and markets products such as smart ceiling fans, lighting fixtures, electrical wiring devices, switches, receptacles, plugs and related smart-home solutions.