SKYX Platforms (NASDAQ:SKYX) Issues Earnings Results

SKYX Platforms (NASDAQ:SKYX) released its quarterly earnings results on Tuesday. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01, Zacks reports. SKYX Platforms had a negative net margin of 44.92% and a negative return on equity of 291.41%. The firm had revenue of $22.17 million during the quarter, compared to the consensus estimate of $23.70 million. During the same quarter in the prior year, the firm earned ($0.08) EPS.

SKYX Platforms Price Performance

SKYX Platforms stock traded down $0.05 during midday trading on Thursday, reaching $1.17. 261,596 shares of the company were exchanged, compared to its average volume of 338,667. The firm’s 50-day simple moving average is $1.09 and its 200-day simple moving average is $1.01. SKYX Platforms has a 1 year low of $0.72 and a 1 year high of $1.95. The company has a market capitalization of $119.34 million, a price-to-earnings ratio of -2.84 and a beta of -2,826.85. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.62 and a current ratio of 0.77.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Roth Capital raised shares of SKYX Platforms to a “strong-buy” rating in a research note on Tuesday, September 10th. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a report on Tuesday, August 13th. Finally, Roth Mkm assumed coverage on SKYX Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $2.00 price objective on the stock.

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.