Noble Financial Raises Earnings Estimates for SKYX Platforms

SKYX Platforms Corp. (NASDAQ:SKYX) – Analysts at Noble Financial lifted their FY2024 earnings per share (EPS) estimates for SKYX Platforms in a research report issued on Wednesday, November 13th. Noble Financial analyst P. Mccann now anticipates that the company will post earnings of ($0.34) per share for the year, up from their previous estimate of ($0.36). The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.34) per share. Noble Financial also issued estimates for SKYX Platforms’ FY2025 earnings at ($0.19) EPS.

SKYX has been the topic of a number of other research reports. Roth Capital raised shares of SKYX Platforms to a “strong-buy” rating in a report on Tuesday, September 10th. Roth Mkm began coverage on SKYX Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $2.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and set a $5.00 price objective on shares of SKYX Platforms in a research report on Tuesday, August 13th.

SKYX Platforms Stock Down 1.7 %

Shares of SKYX Platforms stock opened at $1.19 on Friday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.62 and a current ratio of 0.62. SKYX Platforms has a 52-week low of $0.72 and a 52-week high of $1.95. The company’s 50 day moving average price is $1.10 and its 200-day moving average price is $1.01. The stock has a market capitalization of $121.98 million, a price-to-earnings ratio of -2.98 and a beta of -2,826.85.

SKYX Platforms (NASDAQ:SKYX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. SKYX Platforms had a negative return on equity of 353.92% and a negative net margin of 44.92%. The business had revenue of $22.17 million for the quarter, compared to analyst estimates of $23.70 million. During the same period last year, the company earned ($0.08) EPS.

Institutional Investors Weigh In On SKYX Platforms

Several hedge funds have recently made changes to their positions in SKYX. Point72 Asia Singapore Pte. Ltd. bought a new position in SKYX Platforms in the second quarter worth $79,000. Matrix Asset Advisors Inc. NY grew its position in shares of SKYX Platforms by 53.8% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 100,000 shares of the company’s stock worth $95,000 after buying an additional 35,000 shares during the period. Choreo LLC grew its position in shares of SKYX Platforms by 22.5% in the 2nd quarter. Choreo LLC now owns 286,746 shares of the company’s stock worth $266,000 after buying an additional 52,680 shares during the period. Finally, Vanguard Group Inc. lifted its position in SKYX Platforms by 11.4% during the 1st quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock valued at $3,511,000 after acquiring an additional 273,672 shares during the period. 11.79% of the stock is currently owned by institutional investors.

SKYX Platforms Company Profile

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.