SKYX Platforms Corp. (NASDAQ:SKYX) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus is “Moderate Buy” among six firms, with three buy ratings, one strong-buy, one hold and one sell. The average 12-month price target is $4.67, though Lake Street Capital recently reduced its target from $5 to $4.
• SKYX Platforms shares opened at $1.25, near the lower end of their $0.95–$3.29 52-week range, with a market capitalization of about $169 million. Institutional investors own 11.79% of the company.
• The company reported a quarterly loss of $0.06 per share, missing estimates by $0.01, while revenue of $25.27 million exceeded expectations of $24.07 million. Analysts expect a full-year loss of approximately $0.22 per share.

Shares of SKYX Platforms Corp. (NASDAQ:SKYX - Get Free Report) have received an average recommendation of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.6667.

A number of analysts recently weighed in on the company. Lake Street Capital decreased their price objective on SKYX Platforms from $5.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Wall Street Zen cut SKYX Platforms from a "hold" rating to a "sell" rating in a research note on Saturday, June 20th. Noble Financial upgraded SKYX Platforms to a "strong-buy" rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of SKYX Platforms in a report on Friday, July 17th.

Hedge Funds Weigh In On SKYX Platforms

Hedge funds have recently bought and sold shares of the company. Baxter Bros Inc. bought a new stake in SKYX Platforms during the second quarter valued at $25,000. Hsbc Holdings PLC acquired a new position in shares of SKYX Platforms in the 2nd quarter valued at about $30,000. Invesco Ltd. acquired a new position in shares of SKYX Platforms in the 2nd quarter valued at about $34,000. Vise Technologies Inc. bought a new stake in shares of SKYX Platforms during the 4th quarter valued at about $35,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of SKYX Platforms during the 2nd quarter valued at about $35,000. Institutional investors own 11.79% of the company's stock.

SKYX Platforms Stock Down 0.8%

NASDAQ:SKYX opened at $1.25 on Thursday. SKYX Platforms has a one year low of $0.95 and a one year high of $3.29. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.46 and a quick ratio of 1.28. The company has a market cap of $169.29 million, a PE ratio of -4.63 and a beta of -3,492.86. The firm's 50 day simple moving average is $1.14 and its 200 day simple moving average is $1.33.

SKYX Platforms (NASDAQ:SKYX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $25.27 million for the quarter, compared to analysts' expectations of $24.07 million. On average, research analysts anticipate that SKYX Platforms will post -0.22 earnings per share for the current 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.

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