SKYX Platforms Corp. (NASDAQ:SKYX) Receives Average Rating of “Hold” from Brokerages

Shares of SKYX Platforms Corp. (NASDAQ:SKYX) have been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $5.00.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vise Technologies Inc. bought a new stake in shares of SKYX Platforms in the fourth quarter worth about $35,000. Quadrature Capital Ltd raised its holdings in shares of SKYX Platforms by 50.5% during the 4th quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock worth $49,000 after acquiring an additional 7,575 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of SKYX Platforms during the 4th quarter valued at approximately $49,000. Intech Investment Management LLC purchased a new position in shares of SKYX Platforms in the second quarter valued at $32,000. Finally, Invesco Ltd. bought a new stake in SKYX Platforms in the second quarter worth $34,000. Institutional investors own 11.79% of the company’s stock.

SKYX Platforms Stock Up 1.0%

NASDAQ SKYX opened at $2.03 on Thursday. The stock’s 50-day moving average price is $2.27 and its 200-day moving average price is $1.81. The company has a market capitalization of $246.67 million, a P/E ratio of -5.80 and a beta of -3,941.08. SKYX Platforms has a 52 week low of $0.88 and a 52 week high of $3.29.

About SKYX Platforms

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.