Benchmark Reiterates Buy Rating for SKYX Platforms (NASDAQ:SKYX)

SKYX Platforms (NASDAQ:SKYX)‘s stock had its “buy” rating reiterated by equities research analysts at Benchmark in a research report issued on Tuesday, Benzinga reports. They currently have a $5.00 price objective on the stock. Benchmark’s price target would suggest a potential upside of 410.20% from the stock’s current price.

Separately, Noble Financial started coverage on SKYX Platforms in a research note on Monday, April 29th. They issued an “outperform” rating and a $5.00 price target on the stock.

SKYX Platforms Price Performance

NASDAQ SKYX traded down $0.02 on Tuesday, reaching $0.98. 80,256 shares of the company’s stock traded hands, compared to its average volume of 332,567. The stock has a market cap of $98.17 million, a PE ratio of -2.13 and a beta of -2,809.07. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.89. SKYX Platforms has a 12 month low of $0.72 and a 12 month high of $2.10. The stock has a 50-day simple moving average of $0.97 and a 200 day simple moving average of $1.10.

SKYX Platforms (NASDAQ:SKYX) last posted its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.03. The firm had revenue of $21.45 million for the quarter, compared to analysts’ expectations of $22.00 million. SKYX Platforms had a negative return on equity of 251.77% and a negative net margin of 53.31%. During the same period in the previous year, the firm earned ($0.15) earnings per share. As a group, research analysts predict that SKYX Platforms will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On SKYX Platforms

Several institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. raised its position in SKYX Platforms by 37.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock worth $52,000 after purchasing an additional 8,928 shares during the period. Matrix Asset Advisors Inc. NY raised its stake in shares of SKYX Platforms by 333.3% during the first quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock valued at $85,000 after acquiring an additional 50,000 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of SKYX Platforms in the fourth quarter valued at approximately $85,000. Choreo LLC boosted its holdings in shares of SKYX Platforms by 22.5% in the second quarter. Choreo LLC now owns 286,746 shares of the company’s stock valued at $266,000 after purchasing an additional 52,680 shares during the period. Finally, SlateStone Wealth LLC grew its stake in SKYX Platforms by 1,496.6% in the fourth quarter. SlateStone Wealth LLC now owns 369,609 shares of the company’s stock worth $591,000 after purchasing an additional 346,459 shares in the last quarter. 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.