Roth Capital Comments on SKYX Platforms Corp.’s Q3 2024 Earnings (NASDAQ:SKYX)

SKYX Platforms Corp. (NASDAQ:SKYX) – Equities researchers at Roth Capital issued their Q3 2024 earnings estimates for SKYX Platforms in a report released on Tuesday, September 10th. Roth Capital analyst G. Sweeney expects that the company will post earnings per share of ($0.08) for the quarter. Roth Capital has a “Strong-Buy” rating on the stock. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.36) 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 issued its quarterly earnings results on Monday, August 12th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. SKYX Platforms had a negative return on equity of 260.53% and a negative net margin of 43.51%. The firm had revenue of $21.45 million during the quarter, compared to the consensus estimate of $22.00 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share.

Several other analysts have also recently issued reports on SKYX. Benchmark reaffirmed a “buy” rating and issued a $5.00 price target on shares of SKYX Platforms in a report on Tuesday, August 13th. Roth Mkm assumed coverage on shares of SKYX Platforms in a research report on Tuesday. They set a “buy” rating and a $2.00 price target on the stock.

SKYX Platforms Stock Performance

Shares of SKYX opened at $0.87 on Thursday. SKYX Platforms has a 52-week low of $0.72 and a 52-week high of $1.95. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.88. The firm has a market cap of $88.28 million, a price-to-earnings ratio of -1.89 and a beta of -2,864.85. The business’s 50 day moving average is $0.96 and its two-hundred day moving average is $1.02.

Institutional Trading of SKYX Platforms

A number of institutional investors and hedge funds have recently modified their holdings of SKYX. Vanguard Group Inc. boosted its stake in SKYX Platforms by 11.4% during the 1st quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock valued at $3,511,000 after purchasing an additional 273,672 shares during the period. Choreo LLC raised its stake in SKYX Platforms by 22.5% during the 2nd quarter. Choreo LLC now owns 286,746 shares of the company’s stock valued at $266,000 after acquiring an additional 52,680 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its position in 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 acquiring an additional 35,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of SKYX Platforms during the second quarter valued at $79,000. Finally, Cantor Fitzgerald L. P. bought a new stake in shares of SKYX Platforms during the fourth quarter valued at about $85,000. 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.