FY2024 EPS Estimates for SKYX Platforms Cut by Roth Capital

SKYX Platforms Corp. (NASDAQ:SKYX) – Equities researchers at Roth Capital reduced their FY2024 EPS estimates for shares of SKYX Platforms in a research report issued on Wednesday, November 13th. Roth Capital analyst G. Sweeney now expects that the company will post earnings of ($0.33) per share for the year, down from their previous forecast of ($0.32). Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.34) per share. Roth Capital also issued estimates for SKYX Platforms’ Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.06) EPS and FY2026 earnings at ($0.12) EPS.

SKYX Platforms (NASDAQ:SKYX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. SKYX Platforms had a negative return on equity of 353.92% and a negative net margin of 44.92%. The company had revenue of $22.17 million during the quarter, compared to the consensus estimate of $23.70 million. During the same period in the prior year, the company earned ($0.08) earnings per share.

A number of other brokerages have also commented on SKYX. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of SKYX Platforms in a report on Tuesday, August 13th. Roth Mkm assumed coverage on SKYX Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $2.00 price target on the stock.

SKYX Platforms Price Performance

Shares of SKYX stock opened at $1.19 on Friday. SKYX Platforms has a 52 week low of $0.72 and a 52 week high of $1.95. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.62 and a current ratio of 0.62. The company’s 50 day moving average price is $1.10 and its two-hundred day moving average price is $1.01.

Institutional Trading of SKYX Platforms

A number of hedge funds and other institutional investors have recently made changes to their positions in SKYX. Vanguard Group Inc. boosted its holdings in SKYX Platforms by 11.4% during the first quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock worth $3,511,000 after purchasing an additional 273,672 shares during the last quarter. Choreo LLC lifted its position in SKYX Platforms by 22.5% during the 2nd quarter. Choreo LLC now owns 286,746 shares of the company’s stock worth $266,000 after buying an additional 52,680 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its stake in shares of SKYX Platforms by 30.0% during the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 130,000 shares of the company’s stock worth $110,000 after buying an additional 30,000 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SKYX Platforms in the 2nd quarter valued at about $79,000. 11.79% of the stock is currently owned by institutional investors and hedge funds.

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.