FY2029 EPS Estimates for SKYX Platforms Lowered by Analyst

Key Points

• Litchfield Hills Research lowered SKYX Platforms’ FY2029 EPS estimate to $0.13 from $0.14 and projected FY2030 EPS of $0.16. The FY2029 estimate remains above the current consensus forecast of a $0.21 loss per share.
• SKYX reported a quarterly loss of $0.06 per share, missing expectations by $0.01, although revenue of $25.27 million exceeded the $24.07 million consensus estimate.
• The stock opened at $1.10 and remains near its 52-week low of $0.95. Analyst opinion is mixed, but the overall consensus rating is “Moderate Buy,” with an average price target of $4.67.

SKYX Platforms Corp. (NASDAQ:SKYX - Free Report) - Litchfield Hills Research reduced their FY2029 earnings per share estimates for SKYX Platforms in a research note issued on Wednesday, August 12th. Litchfield Hills Research analyst B. Sine now expects that the company will post earnings of $0.13 per share for the year, down from their prior estimate of $0.14. The consensus estimate for SKYX Platforms' current full-year earnings is ($0.21) per share. Litchfield Hills Research also issued estimates for SKYX Platforms' FY2030 earnings at $0.16 EPS.

A number of other equities research analysts have also issued reports on SKYX. Weiss Ratings reissued a "sell (e+)" rating on shares of SKYX Platforms in a research note on Friday, July 17th. Noble Financial raised shares of SKYX Platforms to a "strong-buy" rating in a research note on Tuesday, May 12th. Lake Street Capital cut 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. Finally, Wall Street Zen downgraded SKYX Platforms from a "hold" rating to a "sell" rating in a research note on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $4.67.

SKYX Platforms Stock Performance

Shares of SKYX opened at $1.10 on Friday. The company has a market capitalization of $147.93 million, a PE ratio of -4.07 and a beta of -3,492.86. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.55 and a current ratio of 1.70. The company's 50 day moving average price is $1.12 and its 200 day moving average price is $1.41. SKYX Platforms has a 52 week low of $0.95 and a 52 week high of $3.29.

SKYX Platforms (NASDAQ:SKYX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The business had revenue of $25.27 million during the quarter, compared to analysts' expectations of $24.07 million.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Kanen Wealth Management LLC acquired a new position in SKYX Platforms during the 1st quarter valued at $1,288,000. Renaissance Technologies LLC grew its position in SKYX Platforms by 243.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,221,500 shares of the company's stock worth $1,368,000 after purchasing an additional 866,287 shares during the last quarter. Allied Private Wealth LLC bought a new position in shares of SKYX Platforms during the 2nd quarter worth about $1,326,000. BlackRock Inc. bought a new stake in shares of SKYX Platforms in the second quarter valued at about $1,100,000. Finally, Baxter Bros Inc. acquired a new stake in SKYX Platforms during the second quarter worth about $25,000. 11.79% of the stock is owned by institutional investors.

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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