FY2024 EPS Forecast for SKYX Platforms Increased by Analyst

SKYX Platforms Corp. (NASDAQ:SKYX) – Stock analysts at Noble Financial upped their FY2024 earnings per share (EPS) estimates for SKYX Platforms in a research note issued on Wednesday, November 13th. Noble Financial analyst P. Mccann now anticipates that the company will post earnings per share of ($0.34) for the year, up from their prior forecast of ($0.36). The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.34) per share. Noble Financial also issued estimates for SKYX Platforms’ FY2025 earnings at ($0.19) EPS.

Several other analysts also recently weighed in on SKYX. Roth Capital raised shares of SKYX Platforms to a “strong-buy” rating in a report on Tuesday, September 10th. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of SKYX Platforms in a research note on Tuesday, August 13th. Finally, Roth Mkm assumed coverage on SKYX Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $2.00 price target on the stock.

SKYX Platforms Stock Performance

NASDAQ:SKYX opened at $1.09 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $111.73 million, a price-to-earnings ratio of -2.73 and a beta of -2,826.85. The firm’s fifty day moving average price is $1.10 and its 200 day moving average price is $1.01. SKYX Platforms has a 1-year low of $0.72 and a 1-year high of $1.95.

SKYX Platforms (NASDAQ:SKYX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. SKYX Platforms had a negative return on equity of 353.92% and a negative net margin of 44.92%. The company had revenue of $22.17 million for the quarter, compared to the consensus estimate of $23.70 million. During the same period last year, the business posted ($0.08) EPS.

Institutional Investors Weigh In On SKYX Platforms

A number of hedge funds and other institutional investors have recently modified their holdings of SKYX. Choreo LLC grew its holdings in shares of 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. Vanguard Group Inc. increased its holdings in SKYX Platforms by 11.4% during the 1st quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock valued at $3,511,000 after acquiring an additional 273,672 shares in the last quarter. Matrix Asset Advisors Inc. NY lifted its holdings in shares of SKYX Platforms by 30.0% in the third quarter. Matrix Asset Advisors Inc. NY now owns 130,000 shares of the company’s stock valued at $110,000 after purchasing an additional 30,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of SKYX Platforms in the second quarter valued at approximately $79,000. Finally, Geode Capital Management LLC increased its stake in shares of SKYX Platforms by 20.8% during the 3rd quarter. Geode Capital Management LLC now owns 704,930 shares of the company’s stock worth $598,000 after purchasing an additional 121,358 shares in the last quarter. 11.79% of the stock is currently owned by institutional investors and hedge funds.

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.