SKYX Platforms (NASDAQ:SKYX) Releases Earnings Results

SKYX Platforms (NASDAQ:SKYX) issued its quarterly earnings data on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, reports. SKYX Platforms had a negative return on equity of 268.85% and a negative net margin of 88.29%. The business had revenue of $21.62 million for the quarter.

SKYX Platforms Stock Up 31.8 %

Shares of NASDAQ SKYX opened at $1.74 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. SKYX Platforms has a twelve month low of $1.20 and a twelve month high of $4.17. The stock has a fifty day simple moving average of $1.45 and a 200-day simple moving average of $2.19.

Analyst Ratings Changes

Separately, Benchmark reiterated a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a research report on Tuesday.

Hedge Funds Weigh In On SKYX Platforms

Several hedge funds have recently bought and sold shares of SKYX. UBS Group AG acquired a new stake in shares of SKYX Platforms during the first quarter worth about $26,000. Morgan Stanley boosted its position in SKYX Platforms by 33.5% in the 4th quarter. Morgan Stanley now owns 14,710 shares of the company’s stock valued at $37,000 after buying an additional 3,695 shares during the period. Private Advisor Group LLC grew its stake in shares of SKYX Platforms by 37.2% in the third quarter. Private Advisor Group LLC now owns 29,500 shares of the company’s stock worth $42,000 after acquiring an additional 8,000 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of SKYX Platforms by 71.9% during the third quarter. Newbridge Financial Services Group Inc. now owns 23,860 shares of the company’s stock worth $34,000 after acquiring an additional 9,980 shares during the period. Finally, Raymond James & Associates acquired a new stake in shares of SKYX Platforms in the second quarter valued at $27,000. Institutional investors and hedge funds own 9.43% of the company’s stock.

SKYX Platforms Company Profile

SKYX Platforms Corp. provides a series of safe-smart platform technologies. The company's first-generation technologies enable light fixtures, ceiling fans, and other electrically wired products to be installed into a ceiling's electrical outlet box; and second-generation technology provides a platform that is designed to enhance safety and lifestyle of homes and other buildings.