Corient Private Wealth LLC Raises Stake in SKYX Platforms Corp. $SKYX

Corient Private Wealth LLC increased its position in shares of SKYX Platforms Corp. (NASDAQ:SKYX) by 163.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 446,981 shares of the company’s stock after acquiring an additional 277,000 shares during the quarter. Corient Private Wealth LLC’s holdings in SKYX Platforms were worth $467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in SKYX Platforms during the second quarter worth $32,000. Invesco Ltd. purchased a new stake in SKYX Platforms in the second quarter valued at approximately $34,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of SKYX Platforms in the second quarter valued at $35,000. New York State Common Retirement Fund acquired a new position in SKYX Platforms during the 2nd quarter worth about $82,000. Finally, Matrix Asset Advisors Inc. NY increased its stake in SKYX Platforms by 27.4% during the second quarter. Matrix Asset Advisors Inc. NY now owns 201,666 shares of the company’s stock worth $211,000 after purchasing an additional 43,333 shares during the period. Institutional investors and hedge funds own 11.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on SKYX shares. Roth Capital raised shares of SKYX Platforms to a “strong-buy” rating in a research report on Friday, October 17th. Weiss Ratings restated a “sell (e+)” rating on shares of SKYX Platforms in a report on Wednesday, October 8th. Zacks Research raised SKYX Platforms to a “hold” rating in a research report on Monday, September 15th. Wall Street Zen upgraded shares of SKYX Platforms from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Litchfield Hills Research assumed coverage on shares of SKYX Platforms in a report on Friday, October 17th. They issued a “buy” rating and a $5.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.00.

SKYX Platforms Trading Down 1.3%

Shares of NASDAQ SKYX opened at $2.32 on Monday. The stock has a market cap of $263.90 million, a P/E ratio of -6.63 and a beta of -3,983.06. SKYX Platforms Corp. has a twelve month low of $0.88 and a twelve month high of $2.57. The stock has a 50 day moving average of $1.93 and a two-hundred day moving average of $1.43.

SKYX Platforms (NASDAQ:SKYX) last announced its earnings results on Wednesday, November 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. SKYX Platforms had a negative net margin of 39.35% and a negative return on equity of 3,407.81%. The business had revenue of $23.89 million for the quarter, compared to analyst estimates of $24.45 million. As a group, research analysts predict that SKYX Platforms Corp. will post -0.34 earnings per share for the current year.

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.