Shares of SKYX Platforms Corp. (NASDAQ:SKYX – Get Free Report) have received an average recommendation of “Moderate Buy” from the four research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $4.50.
SKYX has been the topic of several recent analyst reports. Wall Street Zen cut SKYX Platforms from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SKYX Platforms in a research report on Thursday, October 15th. Finally, Lake Street Capital decreased their target price on shares of SKYX Platforms from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, August 13th.
Check Out Our Latest Report on SKYX
SKYX Platforms Price Performance
Shares of SKYX stock opened at $0.88 on Friday. SKYX Platforms has a 12-month low of $0.83 and a 12-month high of $3.29. The business has a 50 day simple moving average of $1.19 and a 200 day simple moving average of $1.15. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.46 and a quick ratio of 1.28.
SKYX Platforms (NASDAQ:SKYX – Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $25.27 million during the quarter, compared to analysts’ expectations of $24.07 million. Sell-side analysts anticipate that SKYX Platforms will post -0.22 earnings per share for the current year.
Institutional Trading of SKYX Platforms
A number of institutional investors have recently bought and sold shares of SKYX. Renaissance Technologies LLC increased its position in SKYX Platforms by 243.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,221,500 shares of the company’s stock worth $1,368,000 after purchasing an additional 866,287 shares during the last quarter. Allied Private Wealth LLC purchased a new stake in shares of SKYX Platforms during the 2nd quarter worth about $1,326,000. Kanen Wealth Management LLC acquired a new stake in shares of SKYX Platforms during the 1st quarter valued at about $1,288,000. BlackRock Inc. acquired a new stake in shares of SKYX Platforms during the 2nd quarter valued at about $1,100,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of SKYX Platforms during the 2nd quarter valued at about $853,000. Institutional investors and hedge funds own 11.79% of the company’s stock.
About SKYX Platforms
SKYX Platforms Corp. is a technology company focused on making residential and commercial properties smarter, safer and more connected. Its platform is designed to simplify the installation and use of smart-home technology by integrating connectivity and automation capabilities into common electrical and lighting products.
The company develops and markets products such as smart ceiling fans, lighting fixtures, electrical wiring devices, switches, receptacles, plugs and related smart-home solutions.
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