SKYX Platforms (NASDAQ:SKYX) Stock Rating Upgraded by Wall Street Zen

SKYX Platforms (NASDAQ:SKYX) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

SKYX has been the subject of a number of other research reports. Lake Street Capital decreased their target price on shares of SKYX Platforms from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (e+)” rating on shares of SKYX Platforms in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.67.

SKYX Platforms Stock Performance

Shares of SKYX stock opened at $1.23 on Friday. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.28 and a current ratio of 1.46. SKYX Platforms has a 1 year low of $0.95 and a 1 year high of $3.29. The stock has a fifty day moving average of $1.23 and a two-hundred day moving average of $1.21. The firm has a market capitalization of $166.58 million, a PE ratio of -4.56 and a beta of -3,491.36.

SKYX Platforms (NASDAQ:SKYX) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $25.27 million during the quarter, compared to the consensus estimate of $24.07 million. As a group, research analysts expect that SKYX Platforms will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SKYX. Corient Private Wealth LP boosted its stake in shares of SKYX Platforms by 66.0% during the 2nd quarter. Corient Private Wealth LP now owns 709,549 shares of the company’s stock worth $784,000 after acquiring an additional 282,149 shares in the last quarter. Susquehanna International Group LLP boosted its position in shares of SKYX Platforms by 572.2% in the 2nd quarter. Susquehanna International Group LLP now owns 347,746 shares of the company’s stock valued at $384,000 after purchasing an additional 296,014 shares during the period. Bank of America Corp DE purchased a new position in SKYX Platforms in the 2nd quarter worth about $50,000. Hsbc Holdings PLC purchased a new position in SKYX Platforms in the 2nd quarter worth about $30,000. Finally, Clear Harbor Asset Management LLC purchased a new position in SKYX Platforms in the 2nd quarter worth about $853,000. Institutional investors own 11.79% of the company’s stock.

About SKYX Platforms

SKYX Platforms Corp. is a technology company focused on advancing smart-home and building technology through its “Smart Home” and “Smart Platform” product offerings. The company develops plug-and-play electrical and smart-home solutions designed to improve the installation, connectivity, functionality and safety of lighting fixtures and other ceiling-based devices.

Its product portfolio includes smart ceiling receptacles, smart platforms, lighting products and related technologies intended to simplify the installation of smart lighting and enable additional connected-home features.