Allied Private Wealth LLC Buys Shares of 1,123,352 SKYX Platforms Corp. $SKYX

Allied Private Wealth LLC purchased a new position in SKYX Platforms Corp. (NASDAQ:SKYX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,123,352 shares of the company's stock, valued at approximately $1,326,000. SKYX Platforms accounts for 0.8% of Allied Private Wealth LLC's portfolio, making the stock its 19th biggest position. Allied Private Wealth LLC owned 0.84% of SKYX Platforms as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SKYX. Vanguard Group Inc. increased its position in SKYX Platforms by 7.6% during the third quarter. Vanguard Group Inc. now owns 3,326,427 shares of the company's stock valued at $3,726,000 after acquiring an additional 235,625 shares during the last quarter. Geode Capital Management LLC increased its holdings in SKYX Platforms by 14.8% in the 4th quarter. Geode Capital Management LLC now owns 1,742,309 shares of the company's stock worth $3,782,000 after acquiring an additional 224,297 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of SKYX Platforms by 243.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,221,500 shares of the company's stock valued at $1,368,000 after purchasing an additional 866,287 shares during the period. Kanen Wealth Management LLC bought a new stake in SKYX Platforms during the first quarter valued at about $1,288,000. Finally, State Street Corp raised 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 valued at $1,964,000 after purchasing an additional 212,164 shares during the period. 11.79% of the stock is owned by hedge funds and other institutional investors.

SKYX Platforms Stock Performance

SKYX stock opened at $1.22 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.70 and a quick ratio of 1.55. The business has a 50-day moving average price of $1.12 and a 200 day moving average price of $1.46. The company has a market capitalization of $164.07 million, a P/E ratio of -4.21 and a beta of -3,491.50. SKYX Platforms Corp. has a 1-year low of $0.95 and a 1-year high of $3.29.

SKYX Platforms (NASDAQ:SKYX - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.07). The business had revenue of $22.09 million during the quarter, compared to analysts' expectations of $21.98 million. As a group, equities research analysts forecast that SKYX Platforms Corp. will post -0.22 EPS for the current fiscal year.

Analyst Ratings Changes

SKYX has been the topic of a number of research reports. Wall Street Zen downgraded shares of SKYX Platforms from a "hold" rating to a "sell" rating in a report on Saturday, June 20th. Weiss Ratings restated a "sell (e+)" rating on shares of SKYX Platforms in a report on Friday, July 17th. Finally, Noble Financial raised shares of SKYX Platforms to a "strong-buy" rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $5.00.

SKYX Platforms 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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