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

Wall Street Zen upgraded shares of SKYX Platforms (NASDAQ:SKYX) from a sell rating to a hold rating in a report issued on Thursday.

SKYX Platforms Stock Down 9.0%

Shares of NASDAQ:SKYX opened at $1.32 on Thursday. The company has a market capitalization of $139.60 million, a price-to-earnings ratio of -3.30 and a beta of -3,541.23. The company has a 50 day moving average of $1.19 and a two-hundred day moving average of $1.29. SKYX Platforms has a 52-week low of $0.75 and a 52-week high of $2.14. The company has a quick ratio of 0.47, a current ratio of 0.62 and a debt-to-equity ratio of 2.22.

SKYX Platforms (NASDAQ:SKYX) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. SKYX Platforms had a negative net margin of 44.92% and a negative return on equity of 353.92%. The business had revenue of $20.10 million during the quarter, compared to analyst estimates of $20.25 million. As a group, analysts forecast that SKYX Platforms will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its stake in SKYX Platforms by 3.0% during the 4th quarter. Millennium Management LLC now owns 833,231 shares of the company’s stock valued at $967,000 after purchasing an additional 23,901 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of SKYX Platforms by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 712,391 shares of the company’s stock valued at $827,000 after buying an additional 7,461 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of SKYX Platforms by 685.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 264,724 shares of the company’s stock valued at $302,000 after buying an additional 231,000 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in shares of SKYX Platforms by 13.0% during the first quarter. Kestra Private Wealth Services LLC now owns 239,000 shares of the company’s stock worth $272,000 after buying an additional 27,500 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of SKYX Platforms in the first quarter worth $254,000. Institutional investors and hedge funds own 11.79% of the company’s stock.

About SKYX Platforms

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.