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

SKYX Platforms (NASDAQ:SKYX)‘s stock had its “buy” rating reaffirmed by Benchmark in a report released on Wednesday, Benzinga reports. They currently have a $5.00 price target on the stock. Benchmark’s price objective suggests a potential upside of 362.96% from the company’s current price.

Separately, Noble Financial began coverage on shares of SKYX Platforms in a research note on Monday, April 29th. They set an “outperform” rating and a $5.00 price target for the company.

SKYX Platforms Stock Performance

Shares of NASDAQ:SKYX traded up $0.01 during midday trading on Wednesday, hitting $1.08. The company had a trading volume of 205,495 shares, compared to its average volume of 336,514. SKYX Platforms has a 12-month low of $0.72 and a 12-month high of $2.24. 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 company has a market cap of $108.18 million, a price-to-earnings ratio of -2.35 and a beta of -2,811.42. The company has a fifty day moving average of $0.96 and a two-hundred day moving average of $1.14.

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

Institutional Trading of SKYX Platforms

Several institutional investors and hedge funds have recently modified their holdings of SKYX. Newbridge Financial Services Group Inc. raised its stake in SKYX Platforms by 37.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock worth $52,000 after buying an additional 8,928 shares in the last quarter. Matrix Asset Advisors Inc. NY increased its position 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 worth $95,000 after purchasing an additional 35,000 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new position in shares of SKYX Platforms during the fourth quarter worth $85,000. Choreo LLC increased its position in shares of SKYX Platforms by 485.2% during the first quarter. Choreo LLC now owns 234,066 shares of the company’s stock worth $307,000 after purchasing an additional 194,066 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in SKYX Platforms by 11.4% in the first quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock valued at $3,511,000 after purchasing an additional 273,672 shares during the last quarter. Institutional investors 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.