SKYX Platforms (NASDAQ:SKYX) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of SKYX Platforms (NASDAQ:SKYX) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also issued reports on the stock. Lake Street Capital cut their price target on shares of SKYX Platforms from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of SKYX Platforms in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.50.

SKYX Platforms Price Performance

Shares of SKYX stock opened at $0.78 on Friday. SKYX Platforms has a 52-week low of $0.75 and a 52-week high of $3.29. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.28 and a current ratio of 1.46. The firm has a market capitalization of $107.51 million, a P/E ratio of -2.88 and a beta of -3,645.11. The stock has a 50 day moving average price of $1.14 and a 200 day moving average price of $1.39.

SKYX Platforms (NASDAQ:SKYX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $25.27 million for the quarter, compared to the consensus estimate of $24.07 million. As a group, sell-side analysts predict that SKYX Platforms will post -0.21 earnings per share for the current year.

Institutional Trading of SKYX Platforms

A number of institutional investors and hedge funds have recently modified their holdings of SKYX. Renaissance Technologies LLC grew its holdings in shares of SKYX Platforms by 243.9% in the first quarter. Renaissance Technologies LLC now owns 1,221,500 shares of the company’s stock valued at $1,368,000 after purchasing an additional 866,287 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in SKYX Platforms during the second quarter worth approximately $1,326,000. Kanen Wealth Management LLC purchased a new stake in shares of SKYX Platforms in the 1st quarter valued at about $1,288,000. BlackRock Inc. purchased a new stake in SKYX Platforms in the second quarter valued at approximately $1,100,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in SKYX Platforms during the 2nd quarter worth $853,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

SKYX Platforms Company Profile

SKYX Platforms Corp. is a technology company focused on smart-home and smart-building solutions designed to make residential and commercial spaces safer, more connected and easier to automate. Its products are intended to simplify the installation and use of connected electrical and lighting systems, particularly in new construction and renovation projects.

The company develops and markets products such as smart plug-and-play electrical receptacles, ceiling outlet and lighting platforms, smart switches, fixtures and related technologies.