SKYX Platforms (NASDAQ:SKYX) Upgraded at Roth Capital

SKYX Platforms (NASDAQ:SKYX) was upgraded by equities researchers at Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

SKYX has been the topic of a number of other reports. Roth Mkm initiated coverage on SKYX Platforms in a research note on Tuesday. They issued a “buy” rating and a $2.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $5.00 price objective on shares of SKYX Platforms in a research report on Tuesday, August 13th.

SKYX Platforms Stock Performance

Shares of SKYX opened at $0.87 on Tuesday. The firm has a market cap of $88.28 million, a price-to-earnings ratio of -1.89 and a beta of -2,864.85. The company’s fifty day moving average is $0.96 and its 200-day moving average is $1.02. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.88. SKYX Platforms has a 12 month low of $0.72 and a 12 month high of $1.95.

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

Institutional Trading of SKYX Platforms

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKYX. Cantor Fitzgerald L. P. acquired a new stake in SKYX Platforms during the fourth quarter valued at approximately $85,000. Vanguard Group Inc. boosted its stake in SKYX Platforms by 11.4% in the 1st quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock valued at $3,511,000 after buying an additional 273,672 shares in the last quarter. Choreo LLC grew its position in SKYX Platforms by 485.2% in the first quarter. Choreo LLC now owns 234,066 shares of the company’s stock valued at $307,000 after acquiring an additional 194,066 shares during the period. Matrix Asset Advisors Inc. NY raised its stake in SKYX Platforms by 333.3% during the first quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock worth $85,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SKYX Platforms during the second quarter valued at $79,000. Institutional investors own 11.79% of the company’s stock.

SKYX Platforms Company Profile

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.