Analyzing SKYX Platforms (SKYX) and Its Competitors

SKYX Platforms (NASDAQ:SKYX) is one of 260 public companies in the “Technology Services” industry, but how does it weigh in compared to its competitors? We will compare SKYX Platforms to related businesses based on the strength of its valuation, institutional ownership, earnings, dividends, analyst recommendations, profitability and risk.

Risk and Volatility

SKYX Platforms has a beta of -3526.78, meaning that its share price is 352,778% less volatile than the S&P 500. Comparatively, SKYX Platforms’ competitors have a beta of -13.72, meaning that their average share price is 1,472% less volatile than the S&P 500.

Analyst Recommendations

This is a summary of current recommendations for SKYX Platforms and its competitors, as provided by MarketBeat.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
SKYX Platforms	0	0	2	1	3.33
SKYX Platforms Competitors	442	2052	4543	217	2.63

SKYX Platforms presently has a consensus target price of $3.50, indicating a potential upside of 175.59%. As a group, “Technology Services” companies have a potential upside of 21.22%. Given SKYX Platforms’ stronger consensus rating and higher possible upside, analysts clearly believe SKYX Platforms is more favorable than its competitors.

Profitability

This table compares SKYX Platforms and its competitors’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
SKYX Platforms	-40.45%	-3,407.81%	-53.73%
SKYX Platforms Competitors	-368.14%	-109.33%	-21.93%

Insider & Institutional Ownership

11.8% of SKYX Platforms shares are owned by institutional investors. Comparatively, 37.3% of shares of all “Technology Services” companies are owned by institutional investors. 30.0% of SKYX Platforms shares are owned by company insiders. Comparatively, 21.2% of shares of all “Technology Services” companies are owned by company insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock is poised for long-term growth.

Valuation & Earnings

This table compares SKYX Platforms and its competitors revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Net Income	Price/Earnings Ratio
SKYX Platforms	$86.28 million	-$35.77 million	-3.53
SKYX Platforms Competitors	$1.19 billion	$31.94 million	-13.48

SKYX Platforms’ competitors have higher revenue and earnings than SKYX Platforms. SKYX Platforms is trading at a higher price-to-earnings ratio than its competitors, indicating that it is currently more expensive than other companies in its industry.

Summary

SKYX Platforms beats its competitors on 7 of the 13 factors compared.

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. In addition, it offers smart products, such as SkyHome App; sky smart universal power-plug and receptacle; sky-smart plug and play ceiling fans and lightings; and all-in-one smart sky platform. The company was formerly known as SQL Technologies Corp. and changed its name to SKYX Platforms Corp. in June 2022. SKYX Platforms Corp. was incorporated in 2004 and is based in Pompano Beach, Florida.