SKYX Platforms Corp. (NASDAQ:SKYX) Receives $5.00 Consensus PT from Brokerages

SKYX Platforms Corp. (NASDAQ:SKYX) has earned an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $5.00.

A number of brokerages have weighed in on SKYX. Wall Street Zen upgraded SKYX Platforms from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Lake Street Capital initiated coverage on SKYX Platforms in a report on Thursday, March 5th. They set a “buy” rating and a $5.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of SKYX Platforms in a research note on Thursday, January 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $5.00 target price (up from $4.25) on shares of SKYX Platforms in a report on Thursday, January 22nd.

SKYX Platforms Trading Down 2.1%

Shares of SKYX opened at $1.91 on Thursday. SKYX Platforms has a 1 year low of $0.88 and a 1 year high of $3.29. The stock has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $1.84. The stock has a market cap of $232.08 million, a PE ratio of -5.46 and a beta of -3,941.08.

Institutional Trading of SKYX Platforms

Several large investors have recently added to or reduced their stakes in SKYX. Goldman Sachs Group Inc. increased its holdings in shares of SKYX Platforms by 685.0% during the first quarter. Goldman Sachs Group Inc. now owns 264,724 shares of the company’s stock worth $302,000 after buying an additional 231,000 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of SKYX Platforms by 258.5% in the 1st quarter. Jane Street Group LLC now owns 190,265 shares of the company’s stock worth $217,000 after acquiring an additional 137,193 shares in the last quarter. Geode Capital Management LLC grew its position in SKYX Platforms by 96.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,460,777 shares of the company’s stock worth $1,527,000 after acquiring an additional 718,712 shares during the last quarter. Intech Investment Management LLC bought a new stake in SKYX Platforms during the 2nd quarter worth approximately $32,000. Finally, New York State Common Retirement Fund acquired a new stake in SKYX Platforms during the 2nd quarter valued at $82,000. 11.79% of the stock is owned by institutional investors.

SKYX Platforms Company Profile

SKYX Platforms (NASDAQ:SKYX) provides comprehensive maintenance, repair and overhaul (MRO) services and operational support for commercial unmanned aerial systems (UAS). Through its digital platform, the company streamlines the booking, tracking and management of drone maintenance events, ensuring that operators maintain compliance with aviation regulations and industry best practices. SKYX Platforms’ offering is designed to reduce downtime, improve safety and extend the service life of UAS fleets across a wide range of applications.

The company’s service portfolio includes scheduled and unscheduled maintenance, component repair, spare parts provisioning, firmware and software updates, and field support.