SKYX Platforms Corp. (NASDAQ:SKYX) Given Consensus Rating of “Moderate Buy” by Brokerages

SKYX Platforms Corp. (NASDAQ:SKYX) has earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.00.

Several analysts have recently weighed in on SKYX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a report on Tuesday, April 21st. Lake Street Capital began coverage on shares of SKYX Platforms in a research note on Thursday, March 5th. They issued a “buy” rating and a $5.00 price objective for the company. Wall Street Zen downgraded shares of SKYX Platforms from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Noble Financial raised shares of SKYX Platforms to a “strong-buy” rating in a report on Tuesday, May 12th.

SKYX Platforms Price Performance

Shares of NASDAQ:SKYX opened at $1.08 on Friday. The company has a market cap of $145.24 million, a price-to-earnings ratio of -3.72 and a beta of -3,583.04. The firm’s 50-day simple moving average is $1.12 and its 200-day simple moving average is $1.74. The company has a quick ratio of 1.55, a current ratio of 1.70 and a debt-to-equity ratio of 1.37. SKYX Platforms has a fifty-two week low of $0.96 and a fifty-two week high of $3.29.

SKYX Platforms (NASDAQ:SKYX) last issued its earnings results on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The firm had revenue of $22.09 million during the quarter, compared to analysts’ expectations of $21.98 million. As a group, equities research analysts predict that SKYX Platforms will post -0.22 earnings per share for the current year.

Institutional Trading of SKYX Platforms

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. purchased a new stake in SKYX Platforms during the second quarter worth about $34,000. Vise Technologies Inc. purchased a new stake in SKYX Platforms during the fourth quarter worth about $35,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in SKYX Platforms during the second quarter worth about $35,000. JPMorgan Chase & Co. boosted its holdings in SKYX Platforms by 31.7% during the third quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company’s stock worth $45,000 after buying an additional 9,647 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in SKYX Platforms by 50.5% during the fourth quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock worth $49,000 after buying an additional 7,575 shares in the last quarter. 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.