SKYX Platforms (NASDAQ:SKYX) Upgraded by Noble Financial to Strong-Buy Rating

Noble Financial upgraded shares of SKYX Platforms (NASDAQ:SKYX) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Roth Mkm reiterated a “buy” rating and issued a $5.00 price target (up from $4.25) on shares of SKYX Platforms in a research note on Thursday, January 22nd. Wall Street Zen lowered SKYX Platforms from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Lake Street Capital began coverage on shares of SKYX Platforms in a report on Thursday, March 5th. They set a “buy” rating and a $5.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SKYX Platforms in a research note on Tuesday, April 21st. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SKYX Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

SKYX Platforms Price Performance

NASDAQ SKYX opened at $1.14 on Tuesday. The firm’s fifty day simple moving average is $1.38 and its two-hundred day simple moving average is $1.86. The company has a current ratio of 1.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.37. SKYX Platforms has a 12-month low of $0.96 and a 12-month high of $3.29. The firm has a market capitalization of $152.89 million, a P/E ratio of -3.93 and a beta of -3,565.99.

SKYX Platforms (NASDAQ:SKYX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $22.09 million for the quarter, compared to analysts’ expectations of $21.98 million. Analysts forecast that SKYX Platforms will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of SKYX Platforms by 22.5% during the first quarter. Bank of New York Mellon Corp now owns 175,683 shares of the company’s stock worth $197,000 after purchasing an additional 32,212 shares during the period. North Star Investment Management Corp. acquired a new position in SKYX Platforms in the 1st quarter worth approximately $90,000. Hsbc Holdings PLC purchased a new position in SKYX Platforms during the 4th quarter worth approximately $61,000. Invesco Ltd. raised its position in SKYX Platforms by 26.6% during the 4th quarter. Invesco Ltd. now owns 40,732 shares of the company’s stock worth $88,000 after buying an additional 8,547 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in SKYX Platforms by 91.4% during the 4th quarter. XTX Topco Ltd now owns 53,075 shares of the company’s stock valued at $115,000 after acquiring an additional 25,352 shares during the period. 11.79% of the stock is owned by institutional investors and hedge funds.

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.