SKYX Platforms (NASDAQ:SKYX) Stock Rating Upgraded by Noble Financial

SKYX Platforms (NASDAQ:SKYX) was upgraded by equities researchers at Noble Financial to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

SKYX has been the subject of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of SKYX Platforms in a research report on Tuesday, April 21st. Roth Mkm restated a “buy” rating and issued a $5.00 target price (up from $4.25) on shares of SKYX Platforms in a research report on Thursday, January 22nd. Lake Street Capital started coverage on shares of SKYX Platforms in a research report on Thursday, March 5th. They issued a “buy” rating and a $5.00 target price for the company. Finally, Wall Street Zen cut shares of SKYX Platforms from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.00.

SKYX Platforms Trading Up 0.4%

NASDAQ SKYX opened at $1.14 on Tuesday. SKYX Platforms has a one year low of $0.96 and a one year high of $3.29. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.45 and a current ratio of 1.70. The firm has a market capitalization of $152.89 million, a PE ratio of -3.93 and a beta of -3,565.99. The company has a 50-day simple moving average of $1.38 and a 200-day simple moving average of $1.86.

SKYX Platforms (NASDAQ:SKYX) last posted its earnings results on Monday, May 11th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $22.09 million during the quarter, compared to the consensus estimate of $21.98 million. On average, equities analysts forecast that SKYX Platforms will post -0.24 earnings per share for the current year.

Institutional Trading of SKYX Platforms

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in SKYX Platforms by 22.5% during the first quarter. Bank of New York Mellon Corp now owns 175,683 shares of the company’s stock valued at $197,000 after purchasing an additional 32,212 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in shares of SKYX Platforms during the first quarter valued at approximately $90,000. Hsbc Holdings PLC acquired a new stake in shares of SKYX Platforms during the fourth quarter valued at approximately $61,000. Invesco Ltd. raised its holdings in shares of SKYX Platforms by 26.6% during the fourth quarter. Invesco Ltd. now owns 40,732 shares of the company’s stock valued at $88,000 after acquiring an additional 8,547 shares during the period. Finally, XTX Topco Ltd raised its holdings in shares of SKYX Platforms by 91.4% during the fourth quarter. XTX Topco Ltd now owns 53,075 shares of the company’s stock valued at $115,000 after acquiring an additional 25,352 shares during the period. 11.79% of the stock is owned by institutional investors and hedge funds.

SKYX Platforms Company Profile

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.