Wall Street Zen Upgrades SKYX Platforms (NASDAQ:SKYX) to Hold

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

Other research analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of SKYX Platforms in a report on Tuesday, April 21st. Lake Street Capital assumed coverage on SKYX Platforms in a report on Thursday, March 5th. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, Noble Financial upgraded SKYX Platforms to a “strong-buy” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SKYX Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

SKYX Platforms Trading Down 4.9%

Shares of NASDAQ:SKYX opened at $1.07 on Friday. SKYX Platforms has a 52 week low of $0.96 and a 52 week high of $3.29. The company’s 50 day moving average is $1.15 and its two-hundred day moving average is $1.80. The company has a current ratio of 1.70, a quick ratio of 1.55 and a debt-to-equity ratio of 1.37. The company has a market cap of $143.89 million, a PE ratio of -3.69 and a beta of -3,583.04.

SKYX Platforms (NASDAQ:SKYX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $22.09 million during the quarter, compared to analysts’ expectations of $21.98 million. Equities analysts predict that SKYX Platforms will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SKYX. Kanen Wealth Management LLC purchased a new position in shares of SKYX Platforms in the 1st quarter valued at about $1,288,000. Renaissance Technologies LLC grew its stake in SKYX Platforms by 243.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,221,500 shares of the company’s stock worth $1,368,000 after buying an additional 866,287 shares during the last quarter. Geode Capital Management LLC grew its stake in SKYX Platforms by 96.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,460,777 shares of the company’s stock worth $1,527,000 after buying an additional 718,712 shares during the last quarter. Daytona Street Capital LLC purchased a new position in SKYX Platforms during the 4th quarter worth approximately $881,000. Finally, Corient Private Wealth LLC grew its stake in SKYX Platforms by 163.0% during the 2nd quarter. Corient Private Wealth LLC now owns 446,981 shares of the company’s stock worth $467,000 after buying an additional 277,000 shares during the last quarter. Hedge funds and other institutional investors own 11.79% of the company’s stock.

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.