Noble Financial Forecasts Higher Earnings for SKYX Platforms

SKYX Platforms Corp. (NASDAQ:SKYX) – Analysts at Noble Financial upped their FY2024 earnings per share (EPS) estimates for shares of SKYX Platforms in a note issued to investors on Wednesday, November 13th. Noble Financial analyst P. Mccann now anticipates that the company will earn ($0.34) per share for the year, up from their previous estimate of ($0.36). The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.34) per share. Noble Financial also issued estimates for SKYX Platforms’ FY2025 earnings at ($0.19) EPS.

SKYX has been the subject of a number of other reports. Benchmark reiterated a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a report on Tuesday, August 13th. Roth Mkm assumed coverage on shares of SKYX Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $2.00 target price for the company. Finally, Roth Capital upgraded shares of SKYX Platforms to a “strong-buy” rating in a report on Tuesday, September 10th.

SKYX Platforms Stock Down 8.4 %

SKYX stock opened at $1.09 on Friday. SKYX Platforms has a one year low of $0.72 and a one year high of $1.95. The firm has a market cap of $111.73 million, a PE ratio of -2.73 and a beta of -2,826.85. The firm’s 50 day moving average price is $1.10 and its 200-day moving average price is $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 (NASDAQ:SKYX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $22.17 million during the quarter, compared to analysts’ expectations of $23.70 million. SKYX Platforms had a negative return on equity of 353.92% and a negative net margin of 44.92%. During the same period in the prior year, the business earned ($0.08) EPS.

Institutional Investors Weigh In On SKYX Platforms

A number of hedge funds and other institutional investors have recently modified their holdings of SKYX. XTX Topco Ltd acquired a new stake in SKYX Platforms in the third quarter valued at $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of SKYX Platforms during the 2nd quarter worth about $79,000. Matrix Asset Advisors Inc. NY lifted its stake in SKYX Platforms by 53.8% during the second quarter. Matrix Asset Advisors Inc. NY now owns 100,000 shares of the company’s stock worth $95,000 after purchasing an additional 35,000 shares during the last quarter. Choreo LLC boosted its holdings in SKYX Platforms by 22.5% in the second quarter. Choreo LLC now owns 286,746 shares of the company’s stock valued at $266,000 after purchasing an additional 52,680 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings 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 purchasing an additional 273,672 shares in the last quarter. 11.79% of the stock is currently owned by institutional investors and hedge funds.

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.