SKYX Platforms (NASDAQ:SKYX) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

SKYX Platforms (NASDAQ:SKYX) released its earnings results on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03, Yahoo Finance reports. SKYX Platforms had a negative return on equity of 251.77% and a negative net margin of 53.31%. The firm had revenue of $21.45 million during the quarter, compared to analysts’ expectations of $22.00 million. During the same quarter last year, the business posted ($0.15) earnings per share.

SKYX Platforms Stock Performance

Shares of SKYX traded up $0.01 during midday trading on Wednesday, reaching $1.03. 3,852 shares of the stock were exchanged, compared to its average volume of 330,970. The business’s 50-day moving average price is $0.98 and its 200 day moving average price is $1.10. The company has a market capitalization of $103.18 million, a price-to-earnings ratio of -2.22 and a beta of -2,809.07. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.89. SKYX Platforms has a twelve month low of $0.72 and a twelve month high of $2.08.

Analyst Upgrades and Downgrades

A number of analysts have commented on SKYX shares. Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a research report on Tuesday. Noble Financial started coverage on SKYX Platforms in a report on Monday, April 29th. They issued an “outperform” rating and a $5.00 price target for the company.

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.