Short Interest in SKYX Platforms Corp. (NASDAQ:SKYX) Expands By 16.8%

SKYX Platforms Corp. (NASDAQ:SKYX) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 3,018,092 shares, a growth of 16.8% from the February 12th total of 2,584,495 shares. Based on an average trading volume of 743,699 shares, the short-interest ratio is presently 4.1 days. Approximately 3.5% of the shares of the company are short sold. Approximately 3.5% of the shares of the company are short sold. Based on an average trading volume of 743,699 shares, the short-interest ratio is presently 4.1 days.

SKYX Platforms Stock Performance

NASDAQ SKYX opened at $1.73 on Tuesday. SKYX Platforms has a twelve month low of $0.88 and a twelve month high of $3.29. The stock has a market capitalization of $210.21 million, a PE ratio of -4.94 and a beta of -3,937.89. The stock has a 50-day simple moving average of $2.21 and a 200 day simple moving average of $1.86.

Analyst Ratings Changes

Several research firms recently weighed in on SKYX. Roth Mkm restated a “buy” rating and issued a $5.00 target price (up from $4.25) on shares of SKYX Platforms in a report on Thursday, January 22nd. Lake Street Capital assumed coverage on shares of SKYX Platforms in a research report on Thursday, March 5th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SKYX Platforms in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SKYX Platforms currently has an average rating of “Hold” and a consensus target price of $5.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SKYX. Quadrature Capital Ltd boosted its position in shares of SKYX Platforms by 50.5% in the fourth quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock valued at $49,000 after acquiring an additional 7,575 shares during the period. Invesco Ltd. increased its position in SKYX Platforms by 26.6% during the fourth quarter. Invesco Ltd. now owns 40,732 shares of the company’s stock worth $88,000 after acquiring an additional 8,547 shares during the period. JPMorgan Chase & Co. raised its stake in SKYX Platforms by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company’s stock valued at $45,000 after purchasing an additional 9,647 shares during the last quarter. Vise Technologies Inc. acquired a new position in SKYX Platforms during the 4th quarter valued at $35,000. Finally, Kestra Private Wealth Services LLC boosted its holdings in SKYX Platforms by 5.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 348,900 shares of the company’s stock valued at $757,000 after purchasing an additional 18,000 shares during the period. 11.79% of the stock is currently owned by institutional investors and hedge funds.

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.