SKYX Platforms (NASDAQ:SKYX) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded SKYX Platforms from "hold" to "sell," though analyst coverage remains mixed (three Buys, one Hold, one Sell) and the consensus target price is $5.00.
• SKYX reported a quarterly EPS miss (‑$0.07 vs. ‑$0.06 estimate) and slightly missed revenue expectations; the stock trades near $1.04 with a negative P/E and analysts forecasting about ‑0.19 EPS for the fiscal year.
• SKYX provides maintenance, repair and overhaul services for commercial UAS/drones; institutional ownership is modest (~11.8%) with several small new positions reported.

SKYX Platforms (NASDAQ:SKYX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

A number of other brokerages have also recently weighed in on SKYX. Lake Street Capital began coverage on SKYX Platforms in a report on Thursday, March 5th. They set a "buy" rating and a $5.00 price objective on the stock. Roth Mkm reissued a "buy" rating and set a $5.00 price objective (up from $4.25) on shares of SKYX Platforms in a report on Thursday, January 22nd. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of SKYX Platforms in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $5.00.

SKYX Platforms Trading Up 1.0%

Shares of NASDAQ SKYX opened at $1.04 on Friday. The stock has a market cap of $138.61 million, a price-to-earnings ratio of -3.35 and a beta of -3,706.21. SKYX Platforms has a 1-year low of $0.96 and a 1-year high of $3.29. The stock's 50-day moving average is $1.57 and its 200 day moving average is $1.87.

SKYX Platforms (NASDAQ:SKYX - Get Free Report) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01). The company had revenue of $24.94 million during the quarter, compared to the consensus estimate of $25.12 million. On average, analysts forecast that SKYX Platforms will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On SKYX Platforms

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. bought a new position in SKYX Platforms during the 2nd quarter worth approximately $34,000. Vise Technologies Inc. bought a new position in SKYX Platforms during the 4th quarter worth approximately $35,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in SKYX Platforms during the 2nd quarter worth approximately $35,000. JPMorgan Chase & Co. grew its position in SKYX Platforms by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company's stock worth $45,000 after acquiring an additional 9,647 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new position in SKYX Platforms during the 3rd quarter worth approximately $47,000. 11.79% of the stock is currently 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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