FY2029 EPS Estimate for SKYX Platforms Decreased by Analyst

by · The Markets Daily

SKYX Platforms Corp. (NASDAQ:SKYX – Free Report) – Litchfield Hills Research decreased their FY2029 earnings per share estimates for SKYX Platforms in a report released on Thursday, October 22nd. Litchfield Hills Research analyst B. Sine now forecasts that the company will post earnings per share of $0.11 for the year, down from their previous estimate of $0.13. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.22) per share. Litchfield Hills Research also issued estimates for SKYX Platforms’ FY2030 earnings at $0.14 EPS.

SKYX Platforms (NASDAQ:SKYX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $25.27 million during the quarter, compared to analysts’ expectations of $24.07 million.

Several other equities research analysts also recently commented on SKYX. Lake Street Capital cut their target price on shares of SKYX Platforms from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (e+)” rating on shares of SKYX Platforms in a research report on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of SKYX Platforms from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.50.

Get Our Latest Research Report on SKYX Platforms

SKYX Platforms Stock Performance

SKYX Platforms stock opened at $0.78 on Monday. The business has a 50 day moving average of $1.17 and a 200-day moving average of $1.41. The company has a market capitalization of $108.38 million, a P/E ratio of -2.91 and a beta of -3,645.11. SKYX Platforms has a 1 year low of $0.75 and a 1 year high of $3.29. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.46 and a quick ratio of 1.28.

Institutional Investors Weigh In On SKYX Platforms

A number of institutional investors have recently made changes to their positions in SKYX. BlackRock Inc. bought a new position in shares of SKYX Platforms during the second quarter worth about $1,100,000. Kanen Wealth Management LLC acquired a new position in shares of SKYX Platforms in the first quarter worth approximately $1,288,000. Renaissance Technologies LLC lifted its stake in shares of SKYX Platforms by 243.9% in the first quarter. Renaissance Technologies LLC now owns 1,221,500 shares of the company’s stock worth $1,368,000 after acquiring an additional 866,287 shares during the period. Allied Private Wealth LLC bought a new stake in SKYX Platforms in the second quarter valued at approximately $1,326,000. Finally, Corient Private Wealth LP bought a new stake in SKYX Platforms in the second quarter valued at approximately $778,000. Institutional investors own 11.79% of the company’s stock.

SKYX Platforms Company Profile

(Get Free Report)

SKYX Platforms Corp. is a technology company focused on smart-home and smart-building solutions designed to make residential and commercial spaces safer, more connected and easier to automate. Its products are intended to simplify the installation and use of connected electrical and lighting systems, particularly in new construction and renovation projects.

The company develops and markets products such as smart plug-and-play electrical receptacles, ceiling outlet and lighting platforms, smart switches, fixtures and related technologies.

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