Lake Street Capital Begins Coverage on SKYX Platforms (NASDAQ:SKYX)

Investment analysts at Lake Street Capital began coverage on shares of SKYX Platforms (NASDAQ:SKYX) in a note issued to investors on Thursday. The brokerage set a “buy” rating and a $5.00 price target on the stock. Lake Street Capital’s price target points to a potential upside of 148.76% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of SKYX Platforms from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings restated a “sell (e+)” rating on shares of SKYX Platforms in a report on Thursday, January 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $5.00 target price (up from $4.25) on shares of SKYX Platforms in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SKYX Platforms has an average rating of “Hold” and an average target price of $5.00.

SKYX Platforms Trading Up 2.0%

Shares of NASDAQ:SKYX opened at $2.01 on Thursday. The firm has a market cap of $244.24 million, a price-to-earnings ratio of -5.74 and a beta of -3,941.08. The stock’s 50-day moving average price is $2.27 and its two-hundred day moving average price is $1.81. SKYX Platforms has a 12-month low of $0.88 and a 12-month high of $3.29.

Institutional Trading of SKYX Platforms

Institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd lifted its position in SKYX Platforms by 50.5% during the 4th quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock worth $49,000 after acquiring an additional 7,575 shares in the last quarter. Invesco Ltd. grew its position in SKYX Platforms by 26.6% in the fourth quarter. Invesco Ltd. now owns 40,732 shares of the company’s stock valued at $88,000 after acquiring an additional 8,547 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of SKYX Platforms by 31.7% during the third quarter. JPMorgan Chase & Co. now owns 40,088 shares of the company’s stock valued at $45,000 after purchasing an additional 9,647 shares during the period. Vise Technologies Inc. acquired a new position in shares of SKYX Platforms during the fourth quarter worth $35,000. Finally, Kestra Private Wealth Services LLC lifted its position in shares of SKYX Platforms by 5.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 348,900 shares of the company’s stock worth $757,000 after purchasing an additional 18,000 shares in the last quarter. 11.79% of the stock is owned by hedge funds and other institutional investors.

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.