SKYX Platforms Corp. (NASDAQ:SKYX) Given Average Rating of “Hold” by Brokerages
by Danessa Lincoln · The Markets DailyShares of SKYX Platforms Corp. (NASDAQ:SKYX – Get Free Report) have been given a consensus rating of “Hold” by the five brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $5.00.
SKYX has been the topic of several recent analyst reports. Lake Street Capital started coverage on shares of SKYX Platforms in a research note on Thursday, March 5th. They issued a “buy” rating and a $5.00 price target on the stock. Roth Mkm restated a “buy” rating and issued a $5.00 target price (up from $4.25) on shares of SKYX Platforms in a report on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research report on Thursday, January 22nd.
Check Out Our Latest Analysis on SKYX Platforms
Institutional Trading of SKYX Platforms
Institutional investors and hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC boosted its holdings in shares of SKYX Platforms by 163.0% in the second quarter. Corient Private Wealth LLC now owns 446,981 shares of the company’s stock valued at $467,000 after acquiring an additional 277,000 shares during the period. Intech Investment Management LLC acquired a new position in shares of SKYX Platforms in the 2nd quarter valued at $32,000. The Manufacturers Life Insurance Company purchased a new stake in SKYX Platforms in the 4th quarter valued at $49,000. Quadrature Capital Ltd boosted its stake in SKYX Platforms by 50.5% during the 4th quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock worth $49,000 after purchasing an additional 7,575 shares during the period. Finally, JPMorgan Chase & Co. grew its position in SKYX Platforms by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company’s stock worth $45,000 after purchasing an additional 9,647 shares during the last quarter. 11.79% of the stock is owned by hedge funds and other institutional investors.
SKYX Platforms Stock Performance
Shares of SKYX opened at $1.15 on Monday. The firm has a market capitalization of $153.27 million, a price-to-earnings ratio of -3.71 and a beta of -3,706.21. The firm’s fifty day simple moving average is $1.93 and its 200-day simple moving average is $1.87. SKYX Platforms has a twelve month low of $0.88 and a twelve month high of $3.29.
SKYX Platforms (NASDAQ:SKYX – Get Free Report) last issued its earnings results on Thursday, March 26th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $24.94 million for the quarter, compared to analysts’ expectations of $25.12 million. On average, analysts predict that SKYX Platforms will post -0.34 earnings per share for the current fiscal year.
SKYX Platforms Company Profile
SKYX Platforms (NASDAQ:SKYX) provides comprehensive maintenance, repair and overhaul (MRO) services and operational support for commercial unmanned aerial systems (UAS). Through its digital platform, the company streamlines the booking, tracking and management of drone maintenance events, ensuring that operators maintain compliance with aviation regulations and industry best practices. SKYX Platforms’ offering is designed to reduce downtime, improve safety and extend the service life of UAS fleets across a wide range of applications.
The company’s service portfolio includes scheduled and unscheduled maintenance, component repair, spare parts provisioning, firmware and software updates, and field support.