Wall Street Zen Upgrades SKYX Platforms (NASDAQ:SKYX) to Hold

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

SKYX Platforms Trading Down 5.9%

Shares of SKYX traded down $0.09 during midday trading on Thursday, hitting $1.37. The stock had a trading volume of 261,624 shares, compared to its average volume of 436,457. The business has a 50-day simple moving average of $1.19 and a two-hundred day simple moving average of $1.29. The firm has a market cap of $144.36 million, a P/E ratio of -3.41 and a beta of -3,541.23. The company has a current ratio of 0.62, a quick ratio of 0.47 and a debt-to-equity ratio of 2.22. SKYX Platforms has a fifty-two week low of $0.75 and a fifty-two week high of $2.14.

SKYX Platforms (NASDAQ:SKYX - Get Free Report) last posted 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 net margin of 44.92% and a negative return on equity of 353.92%. The firm had revenue of $20.10 million during the quarter, compared to analyst estimates of $20.25 million. As a group, equities analysts forecast that SKYX Platforms will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Certuity LLC boosted its position in SKYX Platforms by 60.6% during the 4th quarter. Certuity LLC now owns 28,259 shares of the company's stock worth $33,000 after acquiring an additional 10,659 shares during the period. SlateStone Wealth LLC lifted its position 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 in the last quarter. Barclays PLC boosted its holdings in shares of SKYX Platforms by 3,081,100.0% during the fourth quarter. Barclays PLC now owns 30,812 shares of the company's stock worth $36,000 after purchasing an additional 30,811 shares during the period. Prudential Financial Inc. purchased a new position in SKYX Platforms during the fourth quarter valued at approximately $36,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in SKYX Platforms by 100.0% during the first 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. Hedge funds and other institutional investors own 11.79% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.