SKYX Platforms (NASDAQ:SKYX) Earns “Buy” Rating from Benchmark

Benchmark reiterated their buy rating on shares of SKYX Platforms (NASDAQ:SKYX) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $5.00 target price on the stock.

Separately, Noble Financial began coverage on SKYX Platforms in a research note on Monday, April 29th. They issued an outperform rating and a $5.00 price objective on the stock.

SKYX Platforms Trading Up 1.0 %

SKYX Platforms stock opened at $1.00 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.89. The business’s fifty day moving average is $0.96 and its two-hundred day moving average is $1.14. SKYX Platforms has a 52 week low of $0.72 and a 52 week high of $2.24.

SKYX Platforms (NASDAQ:SKYX) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter. The business had revenue of $18.98 million during the quarter, compared to analyst estimates of $20.00 million. SKYX Platforms had a negative return on equity of 251.77% and a negative net margin of 53.31%. On average, equities analysts forecast that SKYX Platforms will post -0.4 EPS for the current year.

Hedge Funds Weigh In On SKYX Platforms

Several large investors have recently made changes to their positions in the company. Matrix Asset Advisors Inc. NY lifted its stake in shares of SKYX Platforms by 53.8% during the second quarter. Matrix Asset Advisors Inc. NY now owns 100,000 shares of the company’s stock valued at $95,000 after acquiring an additional 35,000 shares during the period. Vanguard Group Inc. lifted its stake in shares of SKYX Platforms by 11.4% during the first quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock valued at $3,511,000 after acquiring an additional 273,672 shares during the period. Choreo LLC lifted its stake in shares of SKYX Platforms by 485.2% during the first quarter. Choreo LLC now owns 234,066 shares of the company’s stock valued at $307,000 after acquiring an additional 194,066 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of SKYX Platforms by 37.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock valued at $52,000 after acquiring an additional 8,928 shares during the period. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of SKYX Platforms during the fourth quarter valued at $85,000. Institutional investors and hedge funds 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.