SKYX Platforms Corp. (NASDAQ:SKYX) Receives $5.00 Average Target Price from Brokerages
by Scott Moore · The Cerbat GemSKYX Platforms Corp. (NASDAQ:SKYX – Get Free Report) has been given an average rating of “Hold” by the five brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.00.
A number of brokerages recently weighed in on SKYX. Roth Mkm reiterated a “buy” rating and set a $5.00 price target (up from $4.25) on shares of SKYX Platforms in a research note on Thursday, January 22nd. Wall Street Zen cut shares of SKYX Platforms from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of SKYX Platforms in a research note on Tuesday, April 21st. Finally, Lake Street Capital began coverage on SKYX Platforms in a report on Thursday, March 5th. They set a “buy” rating and a $5.00 price target on the stock.
Check Out Our Latest Stock Report on SKYX Platforms
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of SKYX. Geode Capital Management LLC raised its stake in shares of SKYX Platforms by 96.9% during the second quarter. Geode Capital Management LLC now owns 1,460,777 shares of the company’s stock worth $1,527,000 after purchasing an additional 718,712 shares during the last quarter. Daytona Street Capital LLC purchased a new position in SKYX Platforms in the 4th quarter valued at $881,000. Renaissance Technologies LLC increased its stake in SKYX Platforms by 741.7% in the 4th quarter. Renaissance Technologies LLC now owns 355,213 shares of the company’s stock valued at $771,000 after buying an additional 313,013 shares during the period. Corient Private Wealth LLC increased its stake in SKYX Platforms by 163.0% in the 2nd quarter. Corient Private Wealth LLC now owns 446,981 shares of the company’s stock valued at $467,000 after buying an additional 277,000 shares during the period. Finally, Vanguard Group Inc. raised its position in SKYX Platforms by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,326,427 shares of the company’s stock worth $3,726,000 after buying an additional 235,625 shares during the last quarter. 11.79% of the stock is currently owned by hedge funds and other institutional investors.
SKYX Platforms Stock Performance
Shares of NASDAQ SKYX opened at $1.04 on Friday. The stock has a market cap of $138.61 million, a P/E ratio of -3.35 and a beta of -3,706.21. SKYX Platforms has a twelve month low of $0.96 and a twelve month high of $3.29. The stock has a 50 day moving average of $1.57 and a two-hundred day moving average of $1.87.
SKYX Platforms (NASDAQ:SKYX – Get Free Report) last announced its earnings results on Thursday, March 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $24.94 million for the quarter, compared to analyst estimates of $25.12 million. As a group, research analysts predict that SKYX Platforms will post -0.19 earnings per share for the current year.
About SKYX Platforms
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.