Litchfield Hills Research Begins Coverage on SKYX Platforms (NASDAQ:SKYX)

Equities research analysts at Litchfield Hills Research began coverage on shares of SKYX Platforms (NASDAQ:SKYX) in a research report issued on Friday, Marketbeat.com reports. The brokerage set a “buy” rating on the stock.

Several other research firms have also issued reports on SKYX. Zacks Research upgraded SKYX Platforms to a “hold” rating in a research report on Monday, September 15th. Wall Street Zen downgraded SKYX Platforms from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

SKYX Platforms Trading Up 5.4%

Shares of SKYX opened at $1.37 on Friday. The stock has a 50 day simple moving average of $1.20 and a 200-day simple moving average of $1.17. SKYX Platforms has a 1 year low of $0.88 and a 1 year high of $2.14. The stock has a market cap of $154.19 million, a PE ratio of -3.81 and a beta of -3,723.67.

SKYX Platforms (NASDAQ:SKYX) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). SKYX Platforms had a negative return on equity of 3,407.81% and a negative net margin of 41.24%.The firm had revenue of $23.10 million during the quarter, compared to analysts’ expectations of $22.95 million. On average, sell-side analysts forecast that SKYX Platforms will post -0.34 EPS for the current fiscal year.

Institutional Trading of SKYX Platforms

Hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in shares of SKYX Platforms in the 2nd quarter valued at about $32,000. Invesco Ltd. acquired a new stake in shares of SKYX Platforms in the 2nd quarter valued at about $34,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of SKYX Platforms in the 2nd quarter valued at about $35,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of SKYX Platforms by 100.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,892 shares of the company’s stock valued at $36,000 after purchasing an additional 15,946 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of SKYX Platforms by 33.9% in the 1st quarter. Private Advisor Group LLC now owns 39,500 shares of the company’s stock valued at $45,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds 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.