SKYX Platforms Corp. $SKYX Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in SKYX Platforms Corp. (NASDAQ:SKYX) by 243.9% in the 1st quarter, Holdings Channel reports. The fund owned 1,221,500 shares of the company’s stock after purchasing an additional 866,287 shares during the period. Renaissance Technologies LLC’s holdings in SKYX Platforms were worth $1,368,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of SKYX Platforms by 96.9% during the second quarter. Geode Capital Management LLC now owns 1,460,777 shares of the company’s stock worth $1,527,000 after purchasing an additional 718,712 shares in the last quarter. Corient Private Wealth LLC grew its holdings in SKYX Platforms by 163.0% during the 2nd quarter. Corient Private Wealth LLC now owns 446,981 shares of the company’s stock valued at $467,000 after purchasing an additional 277,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in SKYX Platforms by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,326,427 shares of the company’s stock valued at $3,726,000 after purchasing an additional 235,625 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in SKYX Platforms by 685.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 264,724 shares of the company’s stock worth $302,000 after buying an additional 231,000 shares during the period. Finally, State Street Corp increased its stake in SKYX Platforms by 30.6% during the 4th quarter. State Street Corp now owns 904,978 shares of the company’s stock worth $1,964,000 after buying an additional 212,164 shares during the period. Hedge funds and other institutional investors own 11.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Noble Financial upgraded shares of SKYX Platforms to a “strong-buy” rating in a report on Tuesday, May 12th. Wall Street Zen lowered SKYX Platforms from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SKYX Platforms in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SKYX Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $5.00.

SKYX Platforms Stock Down 1.6%

SKYX stock opened at $1.21 on Thursday. SKYX Platforms Corp. has a twelve month low of $0.95 and a twelve month high of $3.29. The company has a current ratio of 1.70, a quick ratio of 1.55 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $162.72 million, a P/E ratio of -4.17 and a beta of -3,492.86. The firm has a 50 day simple moving average of $1.12 and a 200-day simple moving average of $1.42.

SKYX Platforms (NASDAQ:SKYX) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $25.27 million for the quarter, compared to analyst estimates of $24.07 million. On average, equities research analysts predict that SKYX Platforms Corp. will post -0.22 earnings per share for the current fiscal year.

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.