SKYX Platforms (NASDAQ:SKYX) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

SKYX Platforms (NASDAQ:SKYX) issued its earnings results on Tuesday. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01, Zacks reports. SKYX Platforms had a negative net margin of 44.92% and a negative return on equity of 291.41%. The company had revenue of $22.17 million for the quarter, compared to analysts’ expectations of $23.70 million. During the same quarter last year, the company earned ($0.08) EPS.

SKYX Platforms Price Performance

Shares of NASDAQ:SKYX traded down $0.08 during midday trading on Thursday, hitting $1.14. The company’s stock had a trading volume of 200,306 shares, compared to its average volume of 338,389. SKYX Platforms has a 12-month low of $0.72 and a 12-month high of $1.95. The company has a market cap of $116.27 million, a P/E ratio of -3.03 and a beta of -2,826.85. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.62 and a current ratio of 0.77. The business’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $1.01.

Analyst Ratings Changes

A number of brokerages have weighed in on SKYX. Benchmark reaffirmed a “buy” rating and set a $5.00 target price on shares of SKYX Platforms in a research note on Tuesday, August 13th. Roth Mkm assumed coverage on shares of SKYX Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $2.00 price objective for the company. Finally, Roth Capital raised shares of SKYX Platforms to a “strong-buy” rating in a research note on Tuesday, September 10th.

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.