SKYX Platforms Corp. Expected to Post Q3 2024 Earnings of ($0.08) Per Share (NASDAQ:SKYX)

SKYX Platforms Corp. (NASDAQ:SKYX) – Roth Capital issued their Q3 2024 earnings estimates for shares of SKYX Platforms in a report released on Tuesday, September 10th. Roth Capital analyst G. Sweeney expects that the company will earn ($0.08) per share for the quarter. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.36) per share. Roth Capital also issued estimates for SKYX Platforms’ Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.32) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.21) EPS and FY2026 earnings at ($0.11) EPS.

SKYX Platforms (NASDAQ:SKYX) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. SKYX Platforms had a negative return on equity of 260.53% and a negative net margin of 43.51%. The firm had revenue of $21.45 million during the quarter, compared to analyst estimates of $22.00 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share.

Several other equities analysts also recently commented on the stock. Roth Mkm initiated coverage on shares of SKYX Platforms in a research note on Tuesday. They set a “buy” rating and a $2.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a research report on Tuesday, August 13th.

SKYX Platforms Stock Performance

NASDAQ:SKYX opened at $0.87 on Thursday. The firm has a market capitalization of $88.18 million, a P/E ratio of -1.89 and a beta of -2,864.85. SKYX Platforms has a 52 week low of $0.72 and a 52 week high of $1.95. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average of $0.96 and a 200 day moving average of $1.02.

Hedge Funds Weigh In On SKYX Platforms

Several hedge funds and other institutional investors have recently modified their holdings of SKYX. Cantor Fitzgerald L. P. bought a new stake in SKYX Platforms during the 4th quarter valued at approximately $85,000. Newbridge Financial Services Group Inc. boosted its position in shares of SKYX Platforms by 37.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock valued at $52,000 after purchasing an additional 8,928 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its stake in SKYX Platforms by 333.3% in the first quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock worth $85,000 after purchasing an additional 50,000 shares during the period. Choreo LLC raised its holdings in SKYX Platforms by 485.2% in the first quarter. Choreo LLC now owns 234,066 shares of the company’s stock worth $307,000 after purchasing an additional 194,066 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in SKYX Platforms by 11.4% during the first quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock valued at $3,511,000 after buying an additional 273,672 shares during the period. Hedge funds and other institutional investors own 11.79% of the company’s stock.

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.