SKYX Platforms (NASDAQ:SKYX) Receives New Coverage from Analysts at Roth Mkm

Equities researchers at Roth Mkm assumed coverage on shares of SKYX Platforms (NASDAQ:SKYX) in a report issued on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $2.00 price target on the stock. Roth Mkm’s target price would suggest a potential upside of 138.10% from the company’s current price.

Separately, Benchmark reaffirmed a “buy” rating and set a $5.00 target price on shares of SKYX Platforms in a research report on Tuesday, August 13th.

SKYX Platforms Stock Performance

Shares of SKYX Platforms stock opened at $0.84 on Tuesday. The company has a market cap of $85.34 million, a P/E ratio of -1.83 and a beta of -2,864.85. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $0.96 and a two-hundred day moving average price of $1.02. SKYX Platforms has a 1-year low of $0.72 and a 1-year high of $1.95.

SKYX Platforms (NASDAQ:SKYX) last issued its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. SKYX Platforms had a negative net margin of 43.51% and a negative return on equity of 260.53%. The business had revenue of $21.45 million for the quarter, compared to analyst estimates of $22.00 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. As a group, analysts anticipate that SKYX Platforms will post -0.36 EPS for the current year.

Hedge Funds Weigh In On SKYX Platforms

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in SKYX Platforms by 11.4% during the 1st quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock worth $3,511,000 after purchasing an additional 273,672 shares in the last quarter. Choreo LLC grew its holdings in 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 buying an additional 194,066 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in SKYX Platforms in the 2nd quarter valued at $79,000. Cantor Fitzgerald L. P. bought a new position in SKYX Platforms during the 4th quarter valued at $85,000. Finally, Matrix Asset Advisors Inc. NY boosted its holdings in SKYX Platforms by 333.3% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock worth $85,000 after acquiring an additional 50,000 shares during the last quarter. Institutional investors own 11.79% of the company’s 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.