SKYX Platforms FY2024 EPS Estimate Lowered by Roth Capital

SKYX Platforms Corp. (NASDAQ:SKYX) – Investment analysts at Roth Capital dropped their FY2024 earnings per share estimates for SKYX Platforms in a research note issued to investors 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 previous forecast of ($0.32). Roth Capital 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.

Other research analysts also recently issued reports about the stock. Roth Mkm began coverage on shares of SKYX Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $2.00 target price on the stock. Benchmark restated a “buy” rating and issued a $5.00 price objective on shares of SKYX Platforms in a research report on Tuesday, August 13th.

SKYX Platforms Trading Down 8.4 %

Shares of SKYX stock opened at $1.09 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50-day moving average of $1.10 and a 200 day moving average of $1.01. The stock has a market capitalization 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.

SKYX Platforms (NASDAQ:SKYX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $22.17 million for the quarter, compared to analysts’ expectations 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 company earned ($0.08) EPS.

Hedge Funds Weigh In On SKYX Platforms

A number of institutional investors and hedge funds have recently made changes to their positions in SKYX. Matrix Asset Advisors Inc. NY increased its position in SKYX Platforms by 30.0% during the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 130,000 shares of the company’s stock valued at $110,000 after buying an additional 30,000 shares in the last quarter. XTX Topco Ltd bought a new position in shares of SKYX Platforms during the third quarter valued at $45,000. Choreo LLC increased its holdings in shares of 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 acquiring an additional 52,680 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SKYX Platforms in the 2nd quarter worth about $79,000. Finally, Vanguard Group Inc. boosted its stake in SKYX Platforms by 11.4% in the 1st quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock worth $3,511,000 after purchasing an additional 273,672 shares in the last quarter. 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.