Analysts Issue Forecasts for SKYX Platforms FY2024 Earnings

SKYX Platforms Corp. (NASDAQ:SKYX) – Roth Capital dropped their FY2024 EPS estimates for shares of SKYX Platforms in a report released on Wednesday, November 13th. Roth Capital analyst G. Sweeney now forecasts that the company will earn ($0.33) per share for the year, down from their previous forecast of ($0.32). Roth Capital currently 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 released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $22.17 million for the quarter, compared to the consensus estimate of $23.70 million. SKYX Platforms had a negative net margin of 44.92% and a negative return on equity of 353.92%. During the same quarter in the prior year, the firm earned ($0.08) earnings per share.

SKYX has been the topic of several other research reports. Roth Mkm started coverage on SKYX Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $2.00 target price 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 Trading Down 8.4 %

Shares of NASDAQ SKYX opened at $1.09 on Friday. SKYX Platforms has a twelve month low of $0.72 and a twelve month high of $1.95. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.22. The business has a fifty day simple moving average of $1.10 and a two-hundred day simple moving average of $1.01. The firm has a market cap of $111.73 million, a PE ratio of -2.73 and a beta of -2,826.85.

Institutional Investors Weigh In On SKYX Platforms

Several institutional investors have recently added to or reduced their stakes in SKYX. XTX Topco Ltd purchased a new position in shares of SKYX Platforms in the 3rd quarter valued at approximately $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SKYX Platforms in the second quarter worth $79,000. Matrix Asset Advisors Inc. NY lifted its stake in shares of 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 buying an additional 35,000 shares during the period. Choreo LLC grew its holdings in shares of SKYX Platforms by 22.5% during the second quarter. Choreo LLC now owns 286,746 shares of the company’s stock valued at $266,000 after buying an additional 52,680 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of SKYX Platforms by 20.8% in the 3rd quarter. Geode Capital Management LLC now owns 704,930 shares of the company’s stock valued at $598,000 after acquiring an additional 121,358 shares during the period. Institutional investors and hedge funds 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.