SKYX Platforms (NASDAQ:SKYX) Now Covered by Analysts at Roth Mkm

Roth Mkm initiated coverage on shares of SKYX Platforms (NASDAQ:SKYX) in a report published on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $2.00 price objective on the stock.

Separately, Benchmark reissued a buy rating and issued a $5.00 target price on shares of SKYX Platforms in a report on Tuesday, August 13th.

SKYX Platforms Stock Up 2.8 %

Shares of NASDAQ SKYX opened at $0.86 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $0.96 and a 200 day moving average price of $1.02. SKYX Platforms has a 52 week low of $0.72 and a 52 week high of $1.95. The stock has a market capitalization of $86.54 million, a price-to-earnings ratio of -1.88 and a beta of -2,864.85.

SKYX Platforms (NASDAQ:SKYX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $21.45 million during the quarter, compared to the consensus estimate of $22.00 million. SKYX Platforms had a negative net margin of 43.51% and a negative return on equity of 260.53%. During the same period last year, the firm earned ($0.15) EPS. Equities research analysts anticipate that SKYX Platforms will post -0.36 EPS for the current fiscal year.

Institutional Trading of SKYX Platforms

Several institutional investors and hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. increased its stake in shares of SKYX Platforms by 37.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock worth $52,000 after purchasing an additional 8,928 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in SKYX Platforms by 53.8% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 100,000 shares of the company’s stock valued at $95,000 after buying an additional 35,000 shares during the last quarter. Choreo LLC increased its position in SKYX Platforms by 22.5% during the second quarter. Choreo LLC now owns 286,746 shares of the company’s stock worth $266,000 after buying an additional 52,680 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new position in shares of SKYX Platforms in the fourth quarter worth $85,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of SKYX Platforms in the second quarter valued at $79,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

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.