SKYX Platforms (NASDAQ:SKYX) Shares Up 2.1% – What’s Next?

SKYX Platforms Corp. (NASDAQ:SKYX) traded up 2.1% on Tuesday . The company traded as high as $2.02 and last traded at $1.97. 971,771 shares traded hands during trading, an increase of 14% from the average session volume of 854,737 shares. The stock had previously closed at $1.93.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Lake Street Capital initiated coverage on SKYX Platforms in a report on Thursday. They set a “buy” rating and a $5.00 target price on the stock. Wall Street Zen upgraded SKYX Platforms from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. 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. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SKYX Platforms in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.00.

SKYX Platforms Trading Down 1.5%

The business has a 50-day moving average price of $2.27 and a 200-day moving average price of $1.81. The stock has a market cap of $240.59 million, a PE ratio of -5.66 and a beta of -3,941.08.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd increased its stake in 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 buying an additional 7,575 shares in the last quarter. Invesco Ltd. lifted its position in shares of SKYX Platforms by 26.6% in the fourth quarter. Invesco Ltd. now owns 40,732 shares of the company’s stock valued at $88,000 after acquiring an additional 8,547 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of SKYX Platforms by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company’s stock worth $45,000 after acquiring an additional 9,647 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of SKYX Platforms during the fourth quarter worth approximately $35,000. Finally, Kestra Private Wealth Services LLC increased its position in shares of SKYX Platforms by 5.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 348,900 shares of the company’s stock worth $757,000 after purchasing an additional 18,000 shares in the last quarter. Institutional investors and hedge funds own 11.79% of the company’s stock.

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.