SKYX Platforms Corp. (NASDAQ:SKYX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of SKYX Platforms Corp. (NASDAQ:SKYX) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $5.00.

Several equities analysts have recently commented on SKYX shares. Noble Financial raised shares of SKYX Platforms to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of SKYX Platforms from a “hold” rating to a “sell” rating in a report on Saturday, June 20th.

SKYX Platforms Stock Performance

NASDAQ:SKYX opened at $1.22 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.55 and a current ratio of 1.70. The stock has a 50-day simple moving average of $1.12 and a two-hundred day simple moving average of $1.46. The firm has a market capitalization of $164.07 million, a PE ratio of -4.21 and a beta of -3,492.86. SKYX Platforms has a 52-week low of $0.95 and a 52-week high of $3.29.

SKYX Platforms (NASDAQ:SKYX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). The firm had revenue of $22.09 million during the quarter, compared to analysts’ expectations of $21.98 million. Analysts forecast that SKYX Platforms will post -0.22 EPS for the current year.

Hedge Funds Weigh In On SKYX Platforms

Institutional investors and hedge funds have recently made changes to their positions in the business. Baxter Bros Inc. purchased a new stake in shares of SKYX Platforms in the second quarter valued at $25,000. Invesco Ltd. purchased a new position in shares of SKYX Platforms during the 2nd quarter worth about $34,000. Vise Technologies Inc. bought a new position in SKYX Platforms during the 4th quarter valued at about $35,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in SKYX Platforms during the 2nd quarter valued at about $35,000. Finally, JPMorgan Chase & Co. raised its position in SKYX Platforms by 31.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company’s stock worth $45,000 after purchasing an additional 9,647 shares during the period. 11.79% of the stock is owned by hedge funds and other institutional investors.

About SKYX Platforms

SKYX Platforms (NASDAQ:SKYX) provides comprehensive maintenance, repair and overhaul (MRO) services and operational support for commercial unmanned aerial systems (UAS). Through its digital platform, the company streamlines the booking, tracking and management of drone maintenance events, ensuring that operators maintain compliance with aviation regulations and industry best practices. SKYX Platforms’ offering is designed to reduce downtime, improve safety and extend the service life of UAS fleets across a wide range of applications.

The company’s service portfolio includes scheduled and unscheduled maintenance, component repair, spare parts provisioning, firmware and software updates, and field support.