Analysts Set SKYX Platforms Corp. (NASDAQ:SKYX) PT at $4.67

SKYX Platforms Corp. (NASDAQ:SKYX) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $4.6667.

Several analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of SKYX Platforms in a report on Friday, July 17th. Wall Street Zen downgraded shares of SKYX Platforms from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. Finally, Lake Street Capital decreased their price objective on SKYX Platforms from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th.

Institutional Trading of SKYX Platforms

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baxter Bros Inc. purchased a new stake in shares of SKYX Platforms during the 2nd quarter valued at about $25,000. Hsbc Holdings PLC purchased a new position in SKYX Platforms in the 2nd quarter worth approximately $30,000. Bank of America Corp DE acquired a new stake in SKYX Platforms in the second quarter valued at approximately $50,000. Integrity Wealth Advisors Inc. acquired a new stake in SKYX Platforms in the fourth quarter valued at approximately $141,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of SKYX Platforms during the first quarter valued at approximately $80,000. Institutional investors and hedge funds own 11.79% of the company’s stock.

SKYX Platforms Price Performance

Shares of NASDAQ:SKYX opened at $1.24 on Monday. SKYX Platforms has a 12 month low of $0.95 and a 12 month high of $3.29. The firm has a market capitalization of $167.93 million, a P/E ratio of -4.59 and a beta of -3,491.36. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.46 and a quick ratio of 1.28. The company’s fifty day moving average price is $1.22 and its 200 day moving average price is $1.22.

SKYX Platforms (NASDAQ:SKYX) last announced its earnings results on Wednesday, August 12th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $25.27 million for the quarter, compared to analyst estimates of $24.07 million. As a group, sell-side analysts predict that SKYX Platforms will post -0.22 earnings per share for the current fiscal year.

SKYX Platforms Company Profile

SKYX Platforms Corp. is a technology company focused on advancing smart-home and building technology through its “Smart Home” and “Smart Platform” product offerings. The company develops plug-and-play electrical and smart-home solutions designed to improve the installation, connectivity, functionality and safety of lighting fixtures and other ceiling-based devices.

Its product portfolio includes smart ceiling receptacles, smart platforms, lighting products and related technologies intended to simplify the installation of smart lighting and enable additional connected-home features.