SKYX Platforms Corp. (NASDAQ:SKYX) Expected to Earn Q3 2024 Earnings of ($0.08) Per Share

SKYX Platforms Corp. (NASDAQ:SKYX) – Analysts at Roth Capital issued their Q3 2024 earnings per share (EPS) estimates for shares of SKYX Platforms in a research report issued to clients and investors on Tuesday, September 10th. Roth Capital analyst G. Sweeney anticipates that the company will post earnings of ($0.08) per share for the quarter. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.36) per share. Roth Capital also issued estimates for SKYX Platforms’ Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.32) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.21) EPS and FY2026 earnings at ($0.11) EPS.

SKYX Platforms (NASDAQ:SKYX) last released its earnings results on Monday, August 12th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. SKYX Platforms had a negative return on equity of 260.53% and a negative net margin of 43.51%. The business had revenue of $21.45 million for the quarter, compared to the consensus estimate of $22.00 million. During the same period in the previous year, the company posted ($0.15) earnings per share.

Several other research analysts have also recently issued reports on SKYX. Roth Mkm started coverage on shares of SKYX Platforms in a report on Tuesday. They issued a “buy” rating and a $2.00 target price for the company. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a research report on Tuesday, August 13th.

SKYX Platforms Price Performance

SKYX opened at $0.87 on Thursday. SKYX Platforms has a 1 year low of $0.72 and a 1 year high of $1.95. The stock has a 50-day moving average price of $0.96 and a 200-day moving average price of $1.02. The firm has a market cap of $88.18 million, a PE ratio of -1.89 and a beta of -2,864.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.77 and a quick ratio of 0.62.

Hedge Funds Weigh In On SKYX Platforms

A number of hedge funds have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. grew its stake in shares of SKYX Platforms by 37.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock worth $52,000 after acquiring an additional 8,928 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in SKYX Platforms in the second quarter worth approximately $79,000. Matrix Asset Advisors Inc. NY boosted its holdings in SKYX Platforms by 333.3% in the first quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock worth $85,000 after purchasing an additional 50,000 shares during the last quarter. Cantor Fitzgerald L. P. bought a new stake in SKYX Platforms in the 4th quarter worth approximately $85,000. Finally, Choreo LLC raised its stake in SKYX Platforms by 22.5% during the 2nd quarter. Choreo LLC now owns 286,746 shares of the company’s stock valued at $266,000 after buying an additional 52,680 shares during the last quarter. Hedge funds and other institutional investors own 11.79% of the company’s stock.

SKYX Platforms Company Profile

SKYX Platforms Corp. provides a series of safe-smart platform technologies. The company's first and second-generation technologies enable light fixtures, ceiling fans, and other electrically wired products to be installed and plugged into a ceiling's electrical outlet box. It also provides universal power-plugs and receptacle products.