SKYX Platforms (NASDAQ:SKYX) Raised to “Hold” at Wall Street Zen

SKYX Platforms (NASDAQ:SKYX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other research firms have also weighed in on SKYX. Litchfield Hills Research began coverage on SKYX Platforms in a research report on Friday, October 17th. They set a “buy” rating and a $5.00 price objective on the stock. Zacks Research upgraded SKYX Platforms to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research report on Wednesday, October 8th. Finally, Roth Capital raised SKYX Platforms to a “strong-buy” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

SKYX Platforms Stock Performance

Shares of SKYX opened at $1.52 on Friday. The company’s 50-day simple moving average is $1.33 and its 200-day simple moving average is $1.24. SKYX Platforms has a 1 year low of $0.88 and a 1 year high of $2.14. The stock has a market capitalization of $172.55 million, a PE ratio of -4.22 and a beta of -3,843.18.

SKYX Platforms (NASDAQ:SKYX) last announced its earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $23.10 million for the quarter, compared to the consensus estimate of $22.95 million. SKYX Platforms had a negative net margin of 41.24% and a negative return on equity of 3,407.81%. On average, sell-side analysts predict that SKYX Platforms will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of SKYX Platforms by 100.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,892 shares of the company’s stock valued at $36,000 after acquiring an additional 15,946 shares during the period. Private Advisor Group LLC boosted its stake in SKYX Platforms by 33.9% during the 1st quarter. Private Advisor Group LLC now owns 39,500 shares of the company’s stock worth $45,000 after purchasing an additional 10,000 shares during the period. Kestra Private Wealth Services LLC grew its position in SKYX Platforms by 13.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 239,000 shares of the company’s stock worth $272,000 after purchasing an additional 27,500 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in SKYX Platforms during the 1st quarter worth $254,000. Finally, Goldman Sachs Group Inc. increased its stake in SKYX Platforms by 685.0% in the first quarter. Goldman Sachs Group Inc. now owns 264,724 shares of the company’s stock valued at $302,000 after purchasing an additional 231,000 shares during the period. Hedge funds and other institutional investors own 11.79% of the company’s stock.

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.