FY2024 EPS Estimates for SKYX Platforms Cut by Roth Capital

SKYX Platforms Corp. (NASDAQ:SKYX) – Equities research analysts at Roth Capital cut their FY2024 EPS estimates for shares of SKYX Platforms in a research report issued to clients and investors on Wednesday, November 13th. Roth Capital analyst G. Sweeney now forecasts that the company will post earnings per share of ($0.33) for the year, down from their prior estimate of ($0.32). Roth Capital has a “Strong-Buy” rating on the stock. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.34) per share. Roth Capital also issued estimates for SKYX Platforms’ Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.06) EPS and FY2026 earnings at ($0.12) EPS.

SKYX Platforms (NASDAQ:SKYX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. SKYX Platforms had a negative net margin of 44.92% and a negative return on equity of 353.92%. The firm had revenue of $22.17 million during the quarter, compared to analysts’ expectations of $23.70 million. During the same quarter last year, the company posted ($0.08) earnings per share.

Several other research analysts have also recently weighed in on the company. Roth Mkm started coverage on SKYX Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $2.00 price target for the company. Benchmark restated a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a research report on Tuesday, August 13th.

SKYX Platforms Stock Performance

NASDAQ SKYX opened at $1.09 on Friday. The firm has a market capitalization of $111.73 million, a P/E ratio of -2.73 and a beta of -2,826.85. The stock has a 50-day simple moving average of $1.10 and a two-hundred day simple moving average of $1.01. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.62 and a current ratio of 0.62. SKYX Platforms has a fifty-two week low of $0.72 and a fifty-two week high of $1.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in SKYX Platforms by 11.4% during the first quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock worth $3,511,000 after acquiring an additional 273,672 shares during the period. Geode Capital Management LLC increased its stake in shares of SKYX Platforms by 20.8% during the third quarter. Geode Capital Management LLC now owns 704,930 shares of the company’s stock worth $598,000 after purchasing an additional 121,358 shares in the last quarter. Choreo LLC increased its stake in shares of 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 purchasing an additional 52,680 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its position in shares of SKYX Platforms by 30.0% during the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 130,000 shares of the company’s stock worth $110,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in SKYX Platforms in the 2nd quarter valued at about $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.