SKYX Platforms (NASDAQ:SKYX) Research Coverage Started at Roth Mkm

Investment analysts at Roth Mkm started coverage on shares of SKYX Platforms (NASDAQ:SKYX) in a research note issued on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $2.00 price target on the stock. Roth Mkm’s price objective points to a potential upside of 138.10% from the stock’s previous close.

Separately, Benchmark reiterated a “buy” rating and issued a $5.00 price objective on shares of SKYX Platforms in a research note on Tuesday, August 13th.

SKYX Platforms Stock Performance

Shares of SKYX opened at $0.84 on Tuesday. The stock has a 50 day moving average of $0.96 and a 200 day moving average of $1.02. The company has a market capitalization of $85.34 million, a price-to-earnings ratio of -1.83 and a beta of -2,864.85. SKYX Platforms has a 12 month low of $0.72 and a 12 month high of $1.95. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.88.

SKYX Platforms (NASDAQ:SKYX) last announced its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.03. The firm had revenue of $21.45 million during the quarter, compared to analyst estimates of $22.00 million. SKYX Platforms had a negative return on equity of 260.53% and a negative net margin of 43.51%. During the same period last year, the firm posted ($0.15) EPS. As a group, sell-side analysts forecast that SKYX Platforms will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On SKYX Platforms

Several hedge funds have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its stake in SKYX Platforms by 37.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock worth $52,000 after buying an additional 8,928 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new position in shares of SKYX Platforms in the fourth quarter worth about $85,000. Matrix Asset Advisors Inc. NY lifted its stake in shares of SKYX Platforms by 333.3% in the 1st quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock valued at $85,000 after acquiring an additional 50,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in SKYX Platforms during the 2nd quarter valued at about $79,000. Finally, Choreo LLC grew its position in SKYX Platforms by 485.2% during the 1st quarter. Choreo LLC now owns 234,066 shares of the company’s stock worth $307,000 after acquiring an additional 194,066 shares during the last quarter. Hedge funds and other institutional investors own 11.79% of the company’s 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.