FY2029 EPS Estimate for SKYX Platforms Reduced by Analyst

SKYX Platforms Corp. (NASDAQ:SKYX) – Analysts at Litchfield Hills Research lowered their FY2029 EPS estimates for shares of SKYX Platforms in a research note issued on Wednesday, August 12th. Litchfield Hills Research analyst B. Sine now expects that the company will earn $0.13 per share for the year, down from their prior estimate of $0.14. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.21) per share. Litchfield Hills Research also issued estimates for SKYX Platforms’ FY2030 earnings at $0.16 EPS.

A number of other research firms also recently weighed in on SKYX. Lake Street Capital decreased their price objective on SKYX Platforms from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday. Wall Street Zen cut SKYX Platforms from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. Noble Financial upgraded SKYX Platforms to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $4.67.

SKYX Platforms Stock Performance

NASDAQ:SKYX opened at $1.10 on Friday. SKYX Platforms has a 12-month low of $0.95 and a 12-month high of $3.29. The company has a quick ratio of 1.55, a current ratio of 1.70 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $147.93 million, a PE ratio of -4.07 and a beta of -3,492.86. The firm has a 50-day moving average price of $1.12 and a 200 day moving average price of $1.41.

SKYX Platforms (NASDAQ:SKYX) last issued its earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $25.27 million for the quarter, compared to analyst estimates of $24.07 million.

Institutional Trading of SKYX Platforms

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd increased its stake in shares of SKYX Platforms by 50.5% in the fourth quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock valued at $49,000 after buying an additional 7,575 shares in the last quarter. Invesco Ltd. lifted its position in SKYX Platforms by 26.6% during the 4th quarter. Invesco Ltd. now owns 40,732 shares of the company’s stock worth $88,000 after buying an additional 8,547 shares in the last quarter. JPMorgan Chase & Co. lifted its position in SKYX Platforms by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company’s stock worth $45,000 after buying an additional 9,647 shares in the last quarter. Vise Technologies Inc. bought a new stake in SKYX Platforms during the 4th quarter worth about $35,000. Finally, Kestra Private Wealth Services LLC grew its holdings in SKYX Platforms by 5.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 348,900 shares of the company’s stock worth $757,000 after acquiring an additional 18,000 shares during the last quarter. 11.79% of the stock is currently owned by institutional investors and hedge funds.

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.