SKYX Platforms Corp. (NASDAQ:SKYX) Given Average Rating of “Moderate Buy” by Analysts

Shares of SKYX Platforms Corp. (NASDAQ:SKYX) have earned an average rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $5.00.

A number of research firms recently commented on SKYX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research note on Tuesday, April 21st. Lake Street Capital began coverage on SKYX Platforms in a research note on Thursday, March 5th. They set a “buy” rating and a $5.00 price objective on the stock. Noble Financial raised SKYX Platforms to a “strong-buy” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered SKYX Platforms from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $5.00 price objective (up from $4.25) on shares of SKYX Platforms in a research note on Thursday, January 22nd.

SKYX Platforms Trading Down 0.5%

NASDAQ:SKYX opened at $1.08 on Tuesday. The stock has a fifty day moving average price of $1.32 and a two-hundred day moving average price of $1.85. The stock has a market capitalization of $144.57 million, a price-to-earnings ratio of -3.71 and a beta of -3,565.99. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.55 and a current ratio of 1.70. SKYX Platforms has a 1 year low of $0.96 and a 1 year high of $3.29.

SKYX Platforms (NASDAQ:SKYX) last posted its earnings results on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The firm had revenue of $22.09 million during the quarter, compared to analyst estimates of $21.98 million. As a group, sell-side analysts anticipate that SKYX Platforms will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of SKYX Platforms

Hedge funds have recently added to or reduced their stakes in the business. Kanen Wealth Management LLC purchased a new position in shares of SKYX Platforms in the 1st quarter worth about $1,288,000. Renaissance Technologies LLC raised its holdings in shares of SKYX Platforms by 243.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,221,500 shares of the company’s stock worth $1,368,000 after purchasing an additional 866,287 shares during the period. Geode Capital Management LLC raised its holdings in shares of SKYX Platforms by 96.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,460,777 shares of the company’s stock worth $1,527,000 after purchasing an additional 718,712 shares during the period. Daytona Street Capital LLC purchased a new position in shares of SKYX Platforms in the 4th quarter worth about $881,000. Finally, Corient Private Wealth LLC raised its holdings in shares of SKYX Platforms by 163.0% in the 2nd quarter. Corient Private Wealth LLC now owns 446,981 shares of the company’s stock worth $467,000 after purchasing an additional 277,000 shares during the period. 11.79% of the stock is owned by institutional investors and hedge funds.

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.