SKYX Platforms Corp. (NASDAQ:SKYX) Given Consensus Recommendation of “Hold” by Analysts

SKYX Platforms Corp. (NASDAQ:SKYX) has earned a consensus rating of “Hold” from the five analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $5.00.

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research report on Thursday, January 22nd. Roth Mkm reaffirmed a “buy” rating and issued a $5.00 price objective (up from $4.25) on shares of SKYX Platforms in a research report on Thursday, January 22nd. Wall Street Zen raised SKYX Platforms from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Lake Street Capital started coverage on shares of SKYX Platforms in a research note on Thursday. They issued a “buy” rating and a $5.00 price target for the company.

SKYX Platforms Trading Up 1.0%

Shares of SKYX opened at $2.03 on Thursday. SKYX Platforms has a 1-year low of $0.88 and a 1-year high of $3.29. The firm’s 50-day moving average price is $2.27 and its 200-day moving average price is $1.81. The firm has a market capitalization of $246.67 million, a price-to-earnings ratio of -5.80 and a beta of -3,941.08.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd increased its position in shares of SKYX Platforms by 50.5% during the 4th quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock valued at $49,000 after purchasing an additional 7,575 shares during the last quarter. Invesco Ltd. increased its holdings in SKYX Platforms by 26.6% during the fourth quarter. Invesco Ltd. now owns 40,732 shares of the company’s stock valued at $88,000 after buying an additional 8,547 shares during the last quarter. JPMorgan Chase & Co. raised its position in SKYX Platforms by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company’s stock worth $45,000 after acquiring an additional 9,647 shares during the period. Vise Technologies Inc. bought a new position in SKYX Platforms in the fourth quarter worth approximately $35,000. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of 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 owned by hedge funds and other institutional investors.

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.