Clear Harbor Asset Management LLC Buys New Position in SKYX Platforms Corp. $SKYX

Clear Harbor Asset Management LLC purchased a new position in shares of SKYX Platforms Corp. (NASDAQ:SKYX) in the 2nd quarter, HoldingsChannel reports. The firm purchased 771,515 shares of the company’s stock, valued at approximately $853,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Baxter Bros Inc. bought a new stake in shares of SKYX Platforms in the 2nd quarter valued at $25,000. Invesco Ltd. bought a new position in SKYX Platforms during the second quarter worth $34,000. Vise Technologies Inc. bought a new position in SKYX Platforms during the fourth quarter worth $35,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in SKYX Platforms in the second quarter valued at $35,000. Finally, JPMorgan Chase & Co. lifted its holdings in SKYX Platforms by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company’s stock valued at $45,000 after buying an additional 9,647 shares during the period. Institutional investors and hedge funds own 11.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SKYX. Lake Street Capital decreased their price target on SKYX Platforms from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Wall Street Zen downgraded SKYX Platforms from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Noble Financial upgraded SKYX Platforms to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.67.

SKYX Platforms Stock Performance

Shares of SKYX opened at $1.15 on Monday. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.46 and a quick ratio of 1.28. The stock has a 50-day moving average of $1.13 and a 200-day moving average of $1.35. The company has a market cap of $155.74 million, a PE ratio of -4.26 and a beta of -3,491.50. SKYX Platforms Corp. has a one year low of $0.95 and a one year high of $3.29.

SKYX Platforms (NASDAQ:SKYX) last issued its earnings results on Wednesday, August 12th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $25.27 million during the quarter, compared to analyst estimates of $24.07 million. On average, equities research analysts predict that SKYX Platforms Corp. will post -0.22 EPS for the current fiscal year.

SKYX Platforms 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.