Research Analysts Issue Forecasts for SKYX Platforms Corp.’s Q3 2024 Earnings (NASDAQ:SKYX)

SKYX Platforms Corp. (NASDAQ:SKYX) – Stock analysts at Roth Capital issued their Q3 2024 earnings estimates for SKYX Platforms in a research note issued to investors on Tuesday, September 10th. Roth Capital analyst G. Sweeney forecasts that the company will post earnings of ($0.08) per share for the quarter. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.34) per share. Roth Capital also issued estimates for SKYX Platforms’ Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.32) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.21) EPS and FY2026 earnings at ($0.11) EPS.

SKYX Platforms (NASDAQ:SKYX) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $21.45 million during the quarter, compared to the consensus estimate of $22.00 million. SKYX Platforms had a negative net margin of 43.51% and a negative return on equity of 260.53%. During the same period in the prior year, the business posted ($0.15) EPS.

Several other research firms also recently commented on SKYX. Benchmark reissued a “buy” rating and issued a $5.00 target price on shares of SKYX Platforms in a research note on Tuesday, August 13th. Roth Mkm initiated coverage on shares of SKYX Platforms in a research note on Tuesday. They issued a “buy” rating and a $2.00 price target for the company.

SKYX Platforms Stock Up 4.0 %

SKYX stock opened at $0.90 on Thursday. The company has a market cap of $91.68 million, a price-to-earnings ratio of -1.96 and a beta of -2,865.94. SKYX Platforms has a twelve month low of $0.72 and a twelve month high of $1.95. The business has a 50 day moving average price of $0.96 and a two-hundred day moving average price of $1.02. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.88.

Institutional Trading of SKYX Platforms

Hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. boosted its position in SKYX Platforms by 37.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock worth $52,000 after purchasing an additional 8,928 shares during the period. Matrix Asset Advisors Inc. NY boosted its holdings in shares of SKYX Platforms by 53.8% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 100,000 shares of the company’s stock worth $95,000 after buying an additional 35,000 shares during the period. Choreo LLC grew its stake in SKYX Platforms by 22.5% in the 2nd quarter. Choreo LLC now owns 286,746 shares of the company’s stock valued at $266,000 after buying an additional 52,680 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new position in SKYX Platforms in the 4th quarter valued at about $85,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in SKYX Platforms in the 2nd quarter valued at about $79,000. 11.79% of the stock is owned by institutional investors and hedge funds.

SKYX Platforms Company Profile

SKYX Platforms Corp. provides a series of safe-smart platform technologies. The company's first and second-generation technologies enable light fixtures, ceiling fans, and other electrically wired products to be installed and plugged into a ceiling's electrical outlet box. It also provides universal power-plugs and receptacle products.