SKYX Platforms (NASDAQ:SKYX) Stock Rating Lowered by Wall Street Zen

Wall Street Zen downgraded shares of SKYX Platforms (NASDAQ:SKYX) from a hold rating to a sell rating in a report released on Friday morning.

SKYX Platforms Price Performance

NASDAQ SKYX opened at $1.31 on Friday. The company has a market cap of $138.61 million, a PE ratio of -3.28 and a beta of -3,541.23. SKYX Platforms has a 52 week low of $0.75 and a 52 week high of $2.14. The company has a quick ratio of 0.47, a current ratio of 0.62 and a debt-to-equity ratio of 2.22. The firm’s 50-day simple moving average is $1.19 and its two-hundred day simple moving average is $1.29.

SKYX Platforms (NASDAQ:SKYX) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business had revenue of $20.10 million for the quarter, compared to the consensus estimate of $20.25 million. SKYX Platforms had a negative net margin of 44.92% and a negative return on equity of 353.92%. Research analysts predict that SKYX Platforms will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On SKYX Platforms

Several institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its holdings in SKYX Platforms by 3.0% during the fourth quarter. Millennium Management LLC now owns 833,231 shares of the company’s stock valued at $967,000 after purchasing an additional 23,901 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of SKYX Platforms by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 712,391 shares of the company’s stock worth $827,000 after buying an additional 7,461 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of SKYX Platforms by 685.0% in the first quarter. Goldman Sachs Group Inc. now owns 264,724 shares of the company’s stock worth $302,000 after buying an additional 231,000 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of SKYX Platforms by 13.0% in the first quarter. Kestra Private Wealth Services LLC now owns 239,000 shares of the company’s stock worth $272,000 after buying an additional 27,500 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of SKYX Platforms in the first quarter worth about $254,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

About SKYX Platforms

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.