SKYX Platforms (NASDAQ:SKYX) Now Covered by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of SKYX Platforms (NASDAQ:SKYX) in a research report released on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $5.00 price target on the stock.

SKYX has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a report on Thursday, January 22nd. Wall Street Zen upgraded SKYX Platforms from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Roth Mkm reiterated a “buy” rating and issued a $5.00 price objective (up from $4.25) on shares of SKYX Platforms in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.00.

SKYX Platforms Price Performance

Shares of SKYX opened at $1.98 on Thursday. SKYX Platforms has a 1-year low of $0.88 and a 1-year high of $3.29. The company has a market capitalization of $240.59 million, a P/E ratio of -5.66 and a beta of -3,941.08. The firm’s 50 day simple moving average is $2.27 and its 200 day simple moving average is $1.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vise Technologies Inc. bought a new stake in shares of SKYX Platforms in the 4th quarter valued at about $35,000. Quadrature Capital Ltd grew its position in SKYX Platforms by 50.5% during the 4th quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock worth $49,000 after acquiring an additional 7,575 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in SKYX Platforms in the 4th quarter worth approximately $49,000. Intech Investment Management LLC purchased a new position in SKYX Platforms in the 2nd quarter worth approximately $32,000. Finally, Invesco Ltd. bought a new stake in SKYX Platforms in the second quarter valued at approximately $34,000. 11.79% of the stock is owned by 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.