SKYX Platforms (NASDAQ:SKYX) Rating Increased to Strong-Buy at Noble Financial

SKYX Platforms (NASDAQ:SKYX) was upgraded by equities researchers at Noble Financial to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research note on Tuesday, April 21st. Roth Mkm reaffirmed a “buy” rating and set a $5.00 price objective (up from $4.25) on shares of SKYX Platforms in a research note on Thursday, January 22nd. Lake Street Capital assumed coverage on SKYX Platforms in a research note on Thursday, March 5th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Wall Street Zen cut SKYX Platforms from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.00.

SKYX Platforms Stock Up 0.4%

Shares of SKYX Platforms stock opened at $1.14 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 1.70 and a debt-to-equity ratio of 1.37. SKYX Platforms has a 12 month low of $0.96 and a 12 month high of $3.29. The business has a fifty day simple moving average of $1.38 and a 200 day simple moving average of $1.86. The stock has a market cap of $152.89 million, a PE ratio of -3.93 and a beta of -3,565.99.

SKYX Platforms (NASDAQ:SKYX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The company had revenue of $22.09 million for the quarter, compared to analyst estimates of $21.98 million. Research analysts predict that SKYX Platforms will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vise Technologies Inc. bought a new position in SKYX Platforms during the fourth quarter worth about $35,000. Quadrature Capital Ltd lifted its holdings in SKYX Platforms by 50.5% during the fourth 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. The Manufacturers Life Insurance Company bought a new position in SKYX Platforms during the fourth quarter worth about $49,000. Hsbc Holdings PLC bought a new position in SKYX Platforms during the fourth quarter worth about $61,000. Finally, Invesco Ltd. bought a new position in SKYX Platforms during the second quarter worth about $34,000. 11.79% of the stock is currently owned by 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.