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

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

SKYX Platforms Stock Up 0.4%

Shares of NASDAQ:SKYX traded up $0.01 during midday trading on Friday, hitting $1.30. 88,249 shares of the company's stock traded hands, compared to its average volume of 510,302. The firm's fifty day moving average price is $1.19 and its two-hundred day moving average price is $1.29. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.47 and a current ratio of 0.62. SKYX Platforms has a twelve month low of $0.75 and a twelve month high of $2.14. The company has a market cap of $137.02 million, a PE ratio of -3.24 and a beta of -3,541.23.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SKYX. Geode Capital Management LLC grew its holdings in SKYX Platforms by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 712,391 shares of the company's stock valued at $827,000 after purchasing an additional 7,461 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of SKYX Platforms by 16.8% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 52,340 shares of the company's stock worth $61,000 after acquiring an additional 7,519 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of SKYX Platforms by 33.9% in the first 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. Certuity LLC boosted its holdings in SKYX Platforms by 60.6% in the fourth quarter. Certuity LLC now owns 28,259 shares of the company's stock valued at $33,000 after purchasing an additional 10,659 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake 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 valued at $36,000 after purchasing an additional 15,946 shares in the last quarter. 11.79% of the stock is owned by institutional investors and hedge funds.

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.