SKYX Platforms (NASDAQ:SKYX) Issues Earnings Results

SKYX Platforms (NASDAQ:SKYX) announced its quarterly earnings results on Monday. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07), FiscalAI reports. The business had revenue of $22.09 million for the quarter, compared to the consensus estimate of $21.98 million.

SKYX Platforms Price Performance

Shares of SKYX traded down $0.16 on Monday, hitting $1.21. The company’s stock had a trading volume of 2,630,693 shares, compared to its average volume of 1,321,627. The company has a market capitalization of $160.60 million, a PE ratio of -3.89 and a beta of -3,565.99. SKYX Platforms has a fifty-two week low of $0.96 and a fifty-two week high of $3.29. The company has a 50 day moving average price of $1.44 and a 200 day moving average price of $1.87.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of SKYX Platforms in a research note on Tuesday, April 21st. Roth Mkm reiterated a “buy” rating and issued a $5.00 target price (up from $4.25) on shares of SKYX Platforms in a research note on Thursday, January 22nd. Wall Street Zen downgraded SKYX Platforms from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Lake Street Capital started coverage on SKYX Platforms in a report on Thursday, March 5th. They issued a “buy” rating and a $5.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC lifted its holdings in SKYX Platforms by 258.5% during the 1st quarter. Jane Street Group LLC now owns 190,265 shares of the company’s stock worth $217,000 after buying an additional 137,193 shares in the last quarter. XTX Topco Ltd lifted its holdings in SKYX Platforms by 91.4% during the 4th quarter. XTX Topco Ltd now owns 53,075 shares of the company’s stock worth $115,000 after buying an additional 25,352 shares in the last quarter. Odyssean LLC acquired a new position in SKYX Platforms during the 4th quarter worth $95,000. MetLife Investment Management LLC acquired a new position in SKYX Platforms during the 4th quarter worth $90,000. Finally, Invesco Ltd. lifted its holdings in SKYX Platforms by 26.6% during the 4th quarter. Invesco Ltd. now owns 40,732 shares of the company’s stock worth $88,000 after buying an additional 8,547 shares in the last quarter. 11.79% of the stock is owned by institutional investors and hedge funds.

SKYX Platforms Company Profile

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.