SKYX Platforms (NASDAQ:SKYX) Coverage Initiated at Noble Financial

Noble Financial initiated coverage on shares of SKYX Platforms (NASDAQ:SKYX) in a report published on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $5.00 price target on the stock.

SKYX Platforms Trading Up 21.2 %

Shares of SKYX opened at $1.03 on Monday. SKYX Platforms has a twelve month low of $0.72 and a twelve month high of $3.85. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.13 and a quick ratio of 0.99. The company’s fifty day simple moving average is $1.16 and its 200-day simple moving average is $1.44.

SKYX Platforms (NASDAQ:SKYX) last announced its earnings results on Monday, April 1st. The company reported ($0.14) earnings per share for the quarter. SKYX Platforms had a negative net margin of 67.61% and a negative return on equity of 260.83%. The firm had revenue of $22.17 million during the quarter.

Institutional Investors Weigh In On SKYX Platforms

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Matrix Asset Advisors Inc. NY grew its holdings in shares of SKYX Platforms by 333.3% in the first quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock worth $85,000 after purchasing an additional 50,000 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of SKYX Platforms by 37.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock worth $52,000 after purchasing an additional 8,928 shares during the last quarter. Cantor Fitzgerald L. P. bought a new position in shares of SKYX Platforms in the fourth quarter worth about $85,000. SlateStone Wealth LLC grew its holdings in shares of SKYX Platforms by 1,496.6% in the fourth quarter. SlateStone Wealth LLC now owns 369,609 shares of the company’s stock worth $591,000 after purchasing an additional 346,459 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of SKYX Platforms by 37.2% in the third quarter. Private Advisor Group LLC now owns 29,500 shares of the company’s stock worth $42,000 after purchasing an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors 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.