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

SKYX Platforms Corp. (NASDAQ:SKYX) has received an average recommendation of “Hold” from the five analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $5.00.

Several research analysts have commented on the stock. Lake Street Capital began coverage on shares of SKYX Platforms in a report on Thursday, March 5th. They set a “buy” rating and a $5.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a report on Thursday, January 22nd. Finally, Roth Mkm reiterated a “buy” rating and issued a $5.00 target price (up from $4.25) on shares of SKYX Platforms in a research report on Thursday, January 22nd.

Institutional Trading of SKYX Platforms

Several hedge funds have recently modified their holdings of SKYX. Vise Technologies Inc. bought a new position in shares of SKYX Platforms during the 4th quarter valued at approximately $35,000. Quadrature Capital Ltd raised its stake in SKYX Platforms by 50.5% during the fourth quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock valued at $49,000 after purchasing an additional 7,575 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in SKYX Platforms during the fourth quarter valued at $49,000. Hsbc Holdings PLC bought a new position in SKYX Platforms during the fourth quarter valued at $61,000. Finally, Intech Investment Management LLC purchased a new position in shares of SKYX Platforms in the 2nd quarter worth $32,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

SKYX Platforms Stock Performance

SKYX stock opened at $1.15 on Monday. SKYX Platforms has a one year low of $0.88 and a one year high of $3.29. The company’s fifty day moving average price is $1.93 and its 200-day moving average price is $1.88. The company has a market capitalization of $153.27 million, a PE ratio of -3.71 and a beta of -3,706.21.

SKYX Platforms (NASDAQ:SKYX) last posted its earnings results on Thursday, March 26th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $24.94 million for the quarter, compared to the consensus estimate of $25.12 million. On average, research analysts predict that SKYX Platforms will post -0.34 EPS for the current fiscal year.

SKYX Platforms Company Profile

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.