SKYX Platforms (NASDAQ:SKYX) Upgraded at Roth Capital

Roth Capital upgraded shares of SKYX Platforms (NASDAQ:SKYX) to a strong-buy rating in a research note released on Tuesday morning, Zacks.com reports. Roth Capital also issued estimates for SKYX Platforms’ Q3 2024 earnings at ($0.08) EPS, 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 has been the topic of several other reports. Benchmark restated a buy rating and set a $5.00 target price on shares of SKYX Platforms in a research note on Tuesday, August 13th. Roth Mkm started coverage on shares of SKYX Platforms in a research report on Tuesday. They issued a buy rating and a $2.00 price objective for the company.

SKYX Platforms Price Performance

Shares of SKYX stock opened at $0.87 on Tuesday. The stock’s 50-day moving average is $0.96 and its 200 day moving average is $1.02. SKYX Platforms has a 1-year low of $0.72 and a 1-year high of $1.95. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.77 and a quick ratio of 0.62. The company has a market cap of $88.18 million, a P/E ratio of -1.89 and a beta of -2,864.85.

SKYX Platforms (NASDAQ:SKYX) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. The firm had revenue of $21.45 million during the quarter, compared to analyst estimates of $22.00 million. SKYX Platforms had a negative net margin of 43.51% and a negative return on equity of 260.53%. During the same quarter in the previous year, the business posted ($0.15) EPS. Research analysts predict that SKYX Platforms will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SKYX Platforms

A number of institutional investors have recently bought and sold shares of the business. Cantor Fitzgerald L. P. purchased a new stake in shares of SKYX Platforms in the fourth quarter worth about $85,000. Newbridge Financial Services Group Inc. increased its holdings in SKYX Platforms by 37.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock valued at $52,000 after buying an additional 8,928 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its position in shares of 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 acquiring an additional 50,000 shares during the period. Choreo LLC boosted its stake in shares of SKYX Platforms by 485.2% during the 1st quarter. Choreo LLC now owns 234,066 shares of the company’s stock worth $307,000 after acquiring an additional 194,066 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of SKYX Platforms by 11.4% in the 1st quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock valued at $3,511,000 after purchasing an additional 273,672 shares in the last quarter. 11.79% of the stock is owned by hedge funds and other institutional investors.

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.