SKYX Platforms Corp. (NASDAQ:SKYX) Receives Consensus Rating of “Moderate Buy” from Brokerages

SKYX Platforms Corp. (NASDAQ:SKYX) has been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $5.00.

A number of equities analysts recently commented on the stock. Noble Financial upgraded shares of SKYX Platforms to a “strong-buy” rating in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of SKYX Platforms from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research note on Friday, July 17th.

Hedge Funds Weigh In On SKYX Platforms

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. bought a new position in SKYX Platforms during the 2nd quarter worth approximately $34,000. Vise Technologies Inc. bought a new stake in SKYX Platforms in the fourth quarter valued at approximately $35,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of SKYX Platforms during the second quarter valued at approximately $35,000. JPMorgan Chase & Co. boosted its stake in shares of SKYX Platforms by 31.7% during the third quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company’s stock valued at $45,000 after purchasing an additional 9,647 shares during the period. Finally, Quadrature Capital Ltd grew its holdings in shares of SKYX Platforms by 50.5% in the fourth quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock worth $49,000 after purchasing an additional 7,575 shares during the last quarter. 11.79% of the stock is currently owned by institutional investors.

SKYX Platforms Stock Performance

Shares of NASDAQ SKYX opened at $1.09 on Friday. The stock has a market cap of $146.58 million, a price-to-earnings ratio of -3.76 and a beta of -3,527.10. The company has a current ratio of 1.70, a quick ratio of 1.55 and a debt-to-equity ratio of 1.37. SKYX Platforms has a 1-year low of $0.95 and a 1-year high of $3.29. The stock’s 50-day moving average is $1.11 and its 200 day moving average is $1.50.

SKYX Platforms (NASDAQ:SKYX) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $22.09 million for the quarter, compared to analysts’ expectations of $21.98 million. On average, sell-side analysts anticipate that SKYX Platforms will post -0.22 EPS for the current fiscal year.

About SKYX Platforms

SKYX Platforms (NASDAQ:SKYX) provides comprehensive maintenance, repair and overhaul (MRO) services and operational support for commercial unmanned aerial systems (UAS). Through its digital platform, the company streamlines the booking, tracking and management of drone maintenance events, ensuring that operators maintain compliance with aviation regulations and industry best practices. SKYX Platforms’ offering is designed to reduce downtime, improve safety and extend the service life of UAS fleets across a wide range of applications.

The company’s service portfolio includes scheduled and unscheduled maintenance, component repair, spare parts provisioning, firmware and software updates, and field support.