SKYX Platforms (NASDAQ:SKYX) Raised to "Hold" at Wall Street Zen

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

SKYX Platforms Trading Down 1.6%

SKYX stock opened at $1.21 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.62 and a debt-to-equity ratio of 2.22. SKYX Platforms has a twelve month low of $0.75 and a twelve month high of $2.14. The stock has a market capitalization of $128.03 million, a price-to-earnings ratio of -3.03 and a beta of -3,526.78. The firm's fifty day simple moving average is $1.22 and its two-hundred day simple moving average is $1.30.

SKYX Platforms (NASDAQ:SKYX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. The firm had revenue of $20.10 million for the quarter, compared to analysts' expectations of $20.25 million. SKYX Platforms had a negative net margin of 44.92% and a negative return on equity of 353.92%. As a group, analysts anticipate that SKYX Platforms will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SKYX. SlateStone Wealth LLC grew its holdings in shares of SKYX Platforms by 169.8% in the fourth quarter. SlateStone Wealth LLC now owns 28,600 shares of the company's stock worth $33,000 after purchasing an additional 18,000 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of SKYX Platforms in the fourth quarter worth about $36,000. Barclays PLC grew its holdings in SKYX Platforms by 3,081,100.0% during the 4th quarter. Barclays PLC now owns 30,812 shares of the company's stock worth $36,000 after acquiring an additional 30,811 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in SKYX Platforms by 100.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,892 shares of the company's stock worth $36,000 after acquiring an additional 15,946 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in SKYX Platforms by 33.9% during the 1st quarter. Private Advisor Group LLC now owns 39,500 shares of the company's stock worth $45,000 after acquiring an additional 10,000 shares in the last quarter. 11.79% of the stock is currently owned by institutional investors.

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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