SKYX Platforms (NASDAQ:SKYX) Releases Earnings Results, Beats Estimates By $0.03 EPS

SKYX Platforms (NASDAQ:SKYX) issued its earnings results on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03, Yahoo Finance reports. The company had revenue of $21.45 million for the quarter, compared to analysts’ expectations of $22.00 million. SKYX Platforms had a negative return on equity of 251.77% and a negative net margin of 53.31%. During the same period last year, the business earned ($0.15) EPS.

SKYX Platforms Stock Down 2.0 %

SKYX Platforms stock traded down $0.02 during trading on Wednesday, hitting $1.00. 69,772 shares of the company were exchanged, compared to its average volume of 331,405. The company has a market capitalization of $100.17 million, a P/E ratio of -2.16 and a beta of -2,809.07. The business’s 50 day moving average is $0.98 and its 200 day moving average is $1.10. SKYX Platforms has a 52 week low of $0.72 and a 52 week high of $2.08. The company has a current ratio of 1.05, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of SKYX Platforms in a research note on Tuesday. Noble Financial assumed coverage on shares of SKYX Platforms in a research report on Monday, April 29th. They issued an “outperform” rating and a $5.00 price target on the stock.

About SKYX Platforms

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.