Brokers Offer Predictions for SKYX Platforms FY2024 Earnings

SKYX Platforms Corp. (NASDAQ:SKYX - Free Report) - Noble Financial upped their FY2024 earnings estimates for SKYX Platforms in a research report issued to clients and investors on Wednesday, November 13th. Noble Financial analyst P. Mccann now expects that the company will post earnings of ($0.34) per share for the year, up from their prior estimate of ($0.36). The consensus estimate for SKYX Platforms' current full-year earnings is ($0.34) per share. Noble Financial also issued estimates for SKYX Platforms' FY2025 earnings at ($0.19) EPS.

SKYX Platforms (NASDAQ:SKYX - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $22.17 million for the quarter, compared to analysts' expectations of $23.70 million. SKYX Platforms had a negative net margin of 44.92% and a negative return on equity of 353.92%. During the same period in the prior year, the company posted ($0.08) EPS.

Several other analysts have also issued reports on SKYX. Roth Capital upgraded shares of SKYX Platforms to a "strong-buy" rating in a research report on Tuesday, September 10th. Roth Mkm started coverage on shares of SKYX Platforms in a research report on Tuesday, September 10th. They issued a "buy" rating and a $2.00 price target for the company. Finally, Benchmark reiterated a "buy" rating and issued a $5.00 price target on shares of SKYX Platforms in a research report on Tuesday, August 13th.

SKYX Platforms Stock Performance

NASDAQ SKYX traded down $0.10 during trading hours on Friday, hitting $1.09. 410,318 shares of the company's stock traded hands, compared to its average volume of 339,833. The business's fifty day moving average price is $1.10 and its two-hundred day moving average price is $1.01. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $111.73 million, a P/E ratio of -2.73 and a beta of -2,826.85. SKYX Platforms has a 52 week low of $0.72 and a 52 week high of $1.95.

Hedge Funds Weigh In On SKYX Platforms

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in SKYX Platforms during the third quarter valued at $45,000. Matrix Asset Advisors Inc. NY increased its stake in shares of SKYX Platforms by 30.0% during the third quarter. Matrix Asset Advisors Inc. NY now owns 130,000 shares of the company's stock worth $110,000 after buying an additional 30,000 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in SKYX Platforms in the second quarter valued at approximately $79,000. Choreo LLC increased its stake in SKYX Platforms by 22.5% in the second quarter. Choreo LLC now owns 286,746 shares of the company's stock valued at $266,000 after purchasing an additional 52,680 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in SKYX Platforms by 11.4% in the first quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company's stock valued at $3,511,000 after purchasing an additional 273,672 shares during the last quarter. Institutional investors own 11.79% of the company's stock.

SKYX Platforms Company Profile

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.