Brokerages Set SKYX Platforms Corp. (NASDAQ:SKYX) Target Price at $5.00

SKYX Platforms Corp. (NASDAQ:SKYX) has been given a consensus rating of “Hold” by the five research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $5.00.

Several research analysts have commented on SKYX shares. Roth Mkm reiterated a “buy” rating and set a $5.00 price target (up from $4.25) on shares of SKYX Platforms in a report on Thursday, January 22nd. Lake Street Capital initiated coverage on shares of SKYX Platforms in a report on Thursday, March 5th. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SKYX Platforms in a research note on Thursday, January 22nd.

SKYX Platforms Price Performance

SKYX stock opened at $1.15 on Monday. The business’s 50-day moving average is $2.01 and its two-hundred day moving average is $1.88. The firm has a market capitalization of $153.27 million, a P/E ratio of -3.71 and a beta of -3,700.00. SKYX Platforms has a 1 year low of $0.88 and a 1 year high of $3.29.

SKYX Platforms (NASDAQ:SKYX) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $24.94 million during the quarter, compared to analyst estimates of $25.12 million. On average, analysts expect that SKYX Platforms will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SKYX. Vanguard Group Inc. increased its holdings in shares of SKYX Platforms by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,326,427 shares of the company’s stock valued at $3,726,000 after acquiring an additional 235,625 shares during the last quarter. Geode Capital Management LLC raised its stake in SKYX Platforms by 14.8% during the 4th quarter. Geode Capital Management LLC now owns 1,742,309 shares of the company’s stock worth $3,782,000 after acquiring an additional 224,297 shares in the last quarter. State Street Corp raised its stake in SKYX Platforms by 30.6% during the 4th quarter. State Street Corp now owns 904,978 shares of the company’s stock worth $1,964,000 after acquiring an additional 212,164 shares in the last quarter. Clear Harbor Asset Management LLC lifted its position in SKYX Platforms by 7.0% in the fourth quarter. Clear Harbor Asset Management LLC now owns 621,635 shares of the company’s stock valued at $1,349,000 after acquiring an additional 40,560 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in SKYX Platforms by 163.0% in the second quarter. Corient Private Wealth LLC now owns 446,981 shares of the company’s stock valued at $467,000 after acquiring an additional 277,000 shares during the last quarter. 11.79% of the stock is owned by institutional investors and hedge funds.

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.