Goldman Sachs Group Inc. Grows Position in SKYX Platforms Corp. $SKYX

Key Points

• Goldman Sachs Group Inc. significantly increased its holdings in SKYX Platforms by 685.0% in the first quarter, now owning approximately 264,724 shares valued at about $302,000.
• Other institutional investors like Jane Street Group and OMERS ADMINISTRATION Corp. also made substantial increases in their positions, highlighting growing institutional interest in SKYX Platforms.
• SKYX Platforms reported earnings matching analyst expectations at ($0.08) EPS, with a revenue of $23.10 million for the quarter, and an average rating of "Hold" from analysts despite some downgrades.

Goldman Sachs Group Inc. raised its holdings in SKYX Platforms Corp. (NASDAQ:SKYX - Free Report) by 685.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 264,724 shares of the company's stock after purchasing an additional 231,000 shares during the quarter. Goldman Sachs Group Inc. owned about 0.25% of SKYX Platforms worth $302,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the company. Jane Street Group LLC raised its position in shares of SKYX Platforms by 258.5% in the 1st quarter. Jane Street Group LLC now owns 190,265 shares of the company's stock valued at $217,000 after acquiring an additional 137,193 shares during the period. OMERS ADMINISTRATION Corp bought a new position in shares of SKYX Platforms in the first quarter worth about $254,000. Kestra Private Wealth Services LLC boosted its position in SKYX Platforms by 13.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 239,000 shares of the company's stock valued at $272,000 after acquiring an additional 27,500 shares in the last quarter. Private Advisor Group LLC lifted its stake in SKYX Platforms by 33.9% in the 1st quarter. Private Advisor Group LLC now owns 39,500 shares of the company's stock worth $45,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in SKYX Platforms by 100.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,892 shares of the company's stock worth $36,000 after purchasing an additional 15,946 shares in the last quarter. 11.79% of the stock is owned by hedge funds and other institutional investors.

SKYX Platforms Price Performance

Shares of SKYX stock opened at $1.14 on Friday. The firm has a market capitalization of $127.05 million, a P/E ratio of -3.17 and a beta of -3,558.12. SKYX Platforms Corp. has a 12 month low of $0.80 and a 12 month high of $2.14. The company's fifty day moving average price is $1.16 and its two-hundred day moving average price is $1.17.

SKYX Platforms (NASDAQ:SKYX - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.08). The company had revenue of $23.10 million during the quarter, compared to the consensus estimate of $22.95 million. SKYX Platforms had a negative net margin of 41.24% and a negative return on equity of 3,407.81%. On average, sell-side analysts anticipate that SKYX Platforms Corp. will post -0.34 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on SKYX shares. Wall Street Zen cut shares of SKYX Platforms from a "hold" rating to a "sell" rating in a research report on Friday. Zacks Research upgraded SKYX Platforms to a "hold" rating in a research report on Monday, September 15th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold".

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.

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