Roth Capital Decreases Earnings Estimates for SKYX Platforms

SKYX Platforms Corp. (NASDAQ:SKYX) – Equities research analysts at Roth Capital dropped their FY2024 earnings per share estimates for SKYX Platforms in a research report issued on Wednesday, November 13th. Roth Capital analyst G. Sweeney now anticipates that the company will earn ($0.33) per share for the year, down from their prior forecast of ($0.32). Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.34) per share. Roth Capital also issued estimates for SKYX Platforms’ Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.06) EPS and FY2026 earnings at ($0.12) EPS.

SKYX has been the subject of a number of other research reports. Benchmark reiterated a “buy” rating and set a $5.00 price objective on shares of SKYX Platforms in a research report on Tuesday, August 13th. Roth Mkm initiated coverage on shares of SKYX Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $2.00 price target for the company.

SKYX Platforms Price Performance

Shares of SKYX opened at $1.09 on Friday. The firm has a market cap of $111.73 million, a PE ratio of -2.73 and a beta of -2,826.85. SKYX Platforms has a 1-year low of $0.72 and a 1-year high of $1.95. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.22. The firm has a fifty day simple moving average of $1.10 and a two-hundred day simple moving average of $1.01.

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

Institutional Trading of SKYX Platforms

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of SKYX Platforms by 11.4% in the first quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock worth $3,511,000 after buying an additional 273,672 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in SKYX Platforms during the 2nd quarter worth approximately $79,000. Choreo LLC lifted its holdings in SKYX Platforms by 22.5% during the second quarter. Choreo LLC now owns 286,746 shares of the company’s stock valued at $266,000 after purchasing an additional 52,680 shares in the last quarter. XTX Topco Ltd bought a new position in shares of SKYX Platforms in the third quarter worth approximately $45,000. Finally, Matrix Asset Advisors Inc. NY increased its stake in shares of SKYX Platforms by 53.8% in the second quarter. Matrix Asset Advisors Inc. NY now owns 100,000 shares of the company’s stock worth $95,000 after purchasing an additional 35,000 shares in the last quarter. Institutional investors own 11.79% of the company’s stock.

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.