Roth Capital Decreases Earnings Estimates for SKYX Platforms

SKYX Platforms Corp. (NASDAQ:SKYX - Free Report) - Stock analysts at Roth Capital cut their FY2024 EPS estimates for shares of SKYX Platforms in a research note issued to investors on Wednesday, November 13th. Roth Capital analyst G. Sweeney now anticipates that the company will earn ($0.33) per share for the year, down from their prior estimate of ($0.32). Roth Capital currently has a "Strong-Buy" rating on the stock. The consensus estimate for SKYX Platforms' current full-year earnings is ($0.34) per share. Roth Capital also issued estimates for SKYX Platforms' Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.06) EPS and FY2026 earnings at ($0.12) EPS.

Several other equities analysts have also weighed in on SKYX. Roth Mkm started coverage on shares of SKYX Platforms in a research report on Tuesday, September 10th. They set a "buy" rating and a $2.00 price target for the company. Benchmark reaffirmed a "buy" rating and issued a $5.00 target price on shares of SKYX Platforms in a research note on Tuesday, August 13th.

SKYX Platforms Stock Down 8.4 %

Shares of SKYX stock traded down $0.10 on Friday, hitting $1.09. The stock had a trading volume of 410,318 shares, compared to its average volume of 339,833. The business has a 50 day moving average of $1.10 and a 200 day moving average of $1.01. The stock has a market cap of $111.73 million, a price-to-earnings ratio of -2.73 and a beta of -2,826.85. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.62 and a quick ratio of 0.62. SKYX Platforms has a 12-month low of $0.72 and a 12-month high of $1.95.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of SKYX Platforms during the 3rd quarter valued at approximately $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SKYX Platforms during the 2nd quarter worth $79,000. Matrix Asset Advisors Inc. NY grew its position in shares of SKYX Platforms by 53.8% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 100,000 shares of the company's stock worth $95,000 after buying an additional 35,000 shares in the last quarter. Choreo LLC grew its position in shares of SKYX Platforms by 22.5% during the 2nd quarter. Choreo LLC now owns 286,746 shares of the company's stock worth $266,000 after buying an additional 52,680 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in SKYX Platforms by 11.4% during 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 in the last quarter. 11.79% of the stock is currently owned by institutional investors.

About SKYX Platforms

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.