SKYX Platforms (NASDAQ:SKYX) Earns Outperform Rating from Analysts at Noble Financial

Noble Financial started coverage on shares of SKYX Platforms (NASDAQ:SKYX) in a report released on Monday, MarketBeat reports. The firm issued an outperform rating and a $5.00 price target on the stock.

SKYX Platforms Price Performance

Shares of SKYX opened at $1.05 on Monday. SKYX Platforms has a fifty-two week low of $0.72 and a fifty-two week high of $3.77. The company has a market capitalization of $101.71 million, a price-to-earnings ratio of -2.28 and a beta of -2,727.18. The firm has a 50-day simple moving average of $1.14 and a 200-day simple moving average of $1.43. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.99 and a current ratio of 1.13.

SKYX Platforms (NASDAQ:SKYX) last announced its quarterly earnings data on Monday, April 1st. The company reported ($0.14) EPS for the quarter. The firm had revenue of $22.17 million during the quarter. SKYX Platforms had a negative net margin of 67.61% and a negative return on equity of 260.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SKYX. Private Advisor Group LLC grew its stake in SKYX Platforms by 37.2% in the 3rd quarter. Private Advisor Group LLC now owns 29,500 shares of the company’s stock worth $42,000 after acquiring an additional 8,000 shares during the period. Newbridge Financial Services Group Inc. grew its stake in SKYX Platforms by 37.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock worth $52,000 after acquiring an additional 8,928 shares during the period. Cantor Fitzgerald L. P. purchased a new stake in SKYX Platforms in the 4th quarter worth approximately $85,000. U.S. Capital Wealth Advisors LLC grew its stake in SKYX Platforms by 79.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 63,200 shares of the company’s stock worth $90,000 after acquiring an additional 28,000 shares during the period. Finally, Matrix Asset Advisors Inc. NY grew its stake in SKYX Platforms by 333.3% in the 1st quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock worth $85,000 after acquiring an additional 50,000 shares during the period. 11.79% of the stock is owned by hedge funds and other 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.