Point72 Asia Singapore Pte. Ltd. Buys New Stake in SKYX Platforms Corp. (NASDAQ:SKYX)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SKYX Platforms Corp. (NASDAQ:SKYX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 83,651 shares of the company’s stock, valued at approximately $79,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.08% of SKYX Platforms as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in SKYX. Newbridge Financial Services Group Inc. increased its position in SKYX Platforms by 37.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock worth $52,000 after purchasing an additional 8,928 shares in the last quarter. Matrix Asset Advisors Inc. NY lifted its stake in shares of SKYX Platforms by 333.3% during the first quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock valued at $85,000 after buying an additional 50,000 shares during the period. Cantor Fitzgerald L. P. acquired a new stake in SKYX Platforms during the fourth quarter worth approximately $85,000. Choreo LLC grew its stake in SKYX Platforms by 22.5% in the 2nd quarter. Choreo LLC now owns 286,746 shares of the company’s stock worth $266,000 after acquiring an additional 52,680 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of SKYX Platforms by 11.4% during the 1st quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock worth $3,511,000 after purchasing an additional 273,672 shares during the period. 11.79% of the stock is owned by institutional investors and hedge funds.

SKYX Platforms Stock Performance

Shares of NASDAQ:SKYX opened at $0.87 on Monday. The business has a 50-day moving average of $0.94 and a two-hundred day moving average of $0.98. The firm has a market capitalization of $86.65 million, a PE ratio of -1.88 and a beta of -2,865.94. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.77 and a quick ratio of 0.62. SKYX Platforms Corp. has a 12 month low of $0.72 and a 12 month high of $1.95.

SKYX Platforms (NASDAQ:SKYX) last posted its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. SKYX Platforms had a negative net margin of 43.51% and a negative return on equity of 260.53%. The firm had revenue of $21.45 million during the quarter, compared to the consensus estimate of $22.00 million. During the same quarter in the prior year, the company earned ($0.15) EPS. As a group, research analysts forecast that SKYX Platforms Corp. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $5.00 target price on shares of SKYX Platforms in a research note on Tuesday, August 13th. Roth Mkm initiated coverage on shares of SKYX Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $2.00 price objective for the company. Finally, Roth Capital raised shares of SKYX Platforms to a “strong-buy” rating in a research report on Tuesday, September 10th.

SKYX Platforms 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.