SKYX Platforms Corp. (NASDAQ:SKYX – Get Free Report) was the recipient of a large drop in short interest in June. As of June 30th, there was short interest totaling 3,511,942 shares, a drop of 40.0% from the June 15th total of 5,855,767 shares. Based on an average trading volume of 2,250,110 shares, the short-interest ratio is presently 1.6 days. Approximately 3.4% of the shares of the stock are short sold.
SKYX Platforms Trading Up 0.4%
Shares of SKYX stock traded up $0.01 on Friday, hitting $1.19. 177,609 shares of the company’s stock traded hands, compared to its average volume of 1,454,945. The stock has a market capitalization of $159.36 million, a price-to-earnings ratio of -4.09 and a beta of -3,527.10. The company’s fifty day simple moving average is $1.11 and its 200 day simple moving average is $1.58. SKYX Platforms has a one year low of $0.95 and a one year high of $3.29. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.55 and a current ratio of 1.70.
SKYX Platforms (NASDAQ:SKYX – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $22.09 million during the quarter, compared to the consensus estimate of $21.98 million. Equities analysts forecast that SKYX Platforms will post -0.22 EPS for the current year.
Analysts Set New Price Targets
Check Out Our Latest Report on SKYX
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of SKYX. Vise Technologies Inc. purchased a new position in SKYX Platforms in the 4th quarter worth approximately $35,000. Quadrature Capital Ltd boosted its stake in shares of SKYX Platforms by 50.5% during the fourth quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock valued at $49,000 after purchasing an additional 7,575 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of SKYX Platforms during the fourth quarter valued at approximately $49,000. Hsbc Holdings PLC bought a new position in shares of SKYX Platforms in the fourth quarter worth approximately $61,000. Finally, Invesco Ltd. bought a new position in shares of SKYX Platforms in the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.
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.
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