Point72 Asia Singapore Pte. Ltd. Acquires Shares of 83,651 SKYX Platforms Corp. (NASDAQ:SKYX)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SKYX Platforms Corp. (NASDAQ:SKYX) in the 2nd quarter, Holdings Channel reports. The fund bought 83,651 shares of the company’s stock, valued at approximately $79,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SKYX. Choreo LLC grew its position in SKYX Platforms by 22.5% in 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. Matrix Asset Advisors Inc. NY increased its stake in shares of SKYX Platforms by 53.8% during the second quarter. Matrix Asset Advisors Inc. NY now owns 100,000 shares of the company’s stock worth $95,000 after acquiring an additional 35,000 shares during the period. Vanguard Group Inc. raised its holdings in SKYX Platforms by 11.4% during the first 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 in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in SKYX Platforms by 37.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock valued at $52,000 after purchasing an additional 8,928 shares in the last quarter. Finally, Cantor Fitzgerald L. P. purchased a new stake in shares of SKYX Platforms in the fourth quarter valued at approximately $85,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

Analysts Set New Price Targets

SKYX has been the topic of several research analyst reports. Roth Capital upgraded shares of SKYX Platforms to a “strong-buy” rating in a research report on Tuesday, September 10th. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a research note on Tuesday, August 13th. Finally, Roth Mkm started coverage on SKYX Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $2.00 price objective for the company.

SKYX Platforms Stock Performance

NASDAQ SKYX opened at $0.95 on Friday. The business has a fifty day moving average of $0.92 and a 200-day moving average of $0.97. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.88. The stock has a market cap of $95.40 million, a price-to-earnings ratio of -2.07 and a beta of -2,868.27. SKYX Platforms Corp. has a fifty-two week low of $0.72 and a fifty-two week high of $1.95.

SKYX Platforms (NASDAQ:SKYX) last released its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share 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 firm had revenue of $21.45 million for the quarter, compared to the consensus estimate of $22.00 million. During the same period in the prior year, the business posted ($0.15) earnings per share. As a group, analysts predict that SKYX Platforms Corp. will post -0.34 earnings per share for the current fiscal year.

About SKYX Platforms

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.