SKYX Platforms (NASDAQ:SKYX) Issues Quarterly Earnings Results

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

SKYX Platforms Price Performance

SKYX stock traded down $0.09 during midday trading on Thursday, reaching $1.13. The stock had a trading volume of 220,708 shares, compared to its average volume of 338,481. 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 company’s fifty day simple moving average is $1.09 and its 200 day simple moving average is $1.01. The company has a market cap of $115.25 million, a price-to-earnings ratio of -2.84 and a beta of -2,826.85. SKYX Platforms has a 52-week low of $0.72 and a 52-week high of $1.95.

Wall Street Analyst Weigh In

SKYX has been the topic of a number of research reports. Roth Capital upgraded shares of SKYX Platforms to a “strong-buy” rating in a research note on Tuesday, September 10th. Roth Mkm started coverage on shares of SKYX Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $2.00 price objective on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $5.00 price target on shares of SKYX Platforms in a report on Tuesday, August 13th.

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.