SKYX Platforms (NASDAQ:SKYX) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

SKYX Platforms (NASDAQ:SKYX) announced its quarterly earnings results on Tuesday. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01, Zacks reports. The company had revenue of $22.17 million for the quarter, compared to analyst estimates of $23.70 million. SKYX Platforms had a negative net margin of 44.92% and a negative return on equity of 291.41%. During the same quarter last year, the business earned ($0.08) EPS.

SKYX Platforms Stock Performance

Shares of SKYX traded down $0.07 during mid-day trading on Thursday, hitting $1.14. The stock had a trading volume of 256,525 shares, compared to its average volume of 338,644. SKYX Platforms has a fifty-two week low of $0.72 and a fifty-two week high of $1.95. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.88. The company has a market cap of $116.78 million, a PE ratio of -2.84 and a beta of -2,826.85. The company’s fifty day simple moving average is $1.09 and its two-hundred day simple moving average is $1.01.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SKYX. Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a research report on Tuesday, August 13th. Roth Capital raised SKYX Platforms to a “strong-buy” rating in a report on Tuesday, September 10th. Finally, Roth Mkm started coverage on SKYX Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $2.00 target price 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.