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SKYX Platforms (NASDAQ:SKYX) Cut to Sell at Wall Street Zen

SKYX Platforms logo with Business Services background

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 report released on Friday.

SKYX Platforms Stock Up 0.8%

Shares of SKYX traded up $0.01 during trading hours on Friday, reaching $1.28. The stock had a trading volume of 203,244 shares, compared to its average volume of 443,960. SKYX Platforms has a 12 month low of $0.75 and a 12 month high of $2.14. The firm has a 50-day simple moving average of $1.19 and a 200 day simple moving average of $1.29. The company has a current ratio of 0.62, a quick ratio of 0.47 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $135.43 million, a price-to-earnings ratio of -3.20 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) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $20.10 million for the quarter, compared to analysts' expectations of $20.25 million. Equities research analysts predict that SKYX Platforms will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SKYX Platforms

Several large investors have recently bought and sold shares of SKYX. SlateStone Wealth LLC lifted its stake in SKYX Platforms by 169.8% during the 4th quarter. SlateStone Wealth LLC now owns 28,600 shares of the company's stock valued at $33,000 after acquiring an additional 18,000 shares in the last quarter. Certuity LLC lifted its stake in SKYX Platforms by 60.6% during the 4th quarter. Certuity LLC now owns 28,259 shares of the company's stock valued at $33,000 after acquiring an additional 10,659 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted 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 acquiring an additional 15,946 shares in the last quarter. Prudential Financial Inc. bought a new position in SKYX Platforms during the 4th quarter valued at $36,000. Finally, Barclays PLC increased its position in shares of SKYX Platforms by 3,081,100.0% during the 4th quarter. Barclays PLC now owns 30,812 shares of the company's stock valued at $36,000 after purchasing an additional 30,811 shares during the last quarter. 11.79% of the stock is currently owned by institutional investors.

About SKYX Platforms

(Get Free Report)

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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