SKYX Platforms (NASDAQ:SKYX) Issues Earnings Results

SKYX Platforms (NASDAQ:SKYX) released its quarterly earnings results on Tuesday. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01, Zacks reports. The business had revenue of $22.17 million during the quarter, compared to analysts’ expectations of $23.70 million. SKYX Platforms had a negative return on equity of 353.92% and a negative net margin of 44.92%. During the same period in the prior year, the business posted ($0.08) EPS.

SKYX Platforms Stock Performance

Shares of SKYX stock opened at $1.19 on Friday. SKYX Platforms has a 52 week low of $0.72 and a 52 week high of $1.95. The firm has a 50 day moving average of $1.10 and a two-hundred day moving average of $1.01. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $121.98 million, a PE ratio of -2.98 and a beta of -2,826.85.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SKYX. Benchmark reissued a “buy” rating and issued a $5.00 price target on shares of SKYX Platforms in a research note on Tuesday, August 13th. Roth Capital upgraded SKYX Platforms to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, Roth Mkm initiated coverage on SKYX Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $2.00 price objective for the company.

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.