SKYX Platforms Corp. (NASDAQ:SKYX) Receives $5.00 Consensus Price Target from Brokerages

SKYX Platforms Corp. (NASDAQ:SKYX) has been assigned an average recommendation of “Hold” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $5.00.

Several research firms have commented on SKYX. Wall Street Zen raised shares of SKYX Platforms from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Roth Mkm reaffirmed a “buy” rating and issued a $5.00 target price (up from $4.25) on shares of SKYX Platforms in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a research report on Thursday, January 22nd. Finally, Lake Street Capital started coverage on SKYX Platforms in a report on Thursday. They set a “buy” rating and a $5.00 price target on the stock.

SKYX Platforms Stock Performance

NASDAQ SKYX opened at $1.88 on Thursday. SKYX Platforms has a fifty-two week low of $0.88 and a fifty-two week high of $3.29. The stock has a market cap of $228.44 million, a PE ratio of -5.37 and a beta of -3,941.08. The firm’s fifty day moving average price is $2.26 and its two-hundred day moving average price is $1.83.

Institutional Investors Weigh In On SKYX Platforms

A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in shares of SKYX Platforms by 26.6% in the 4th quarter. Invesco Ltd. now owns 40,732 shares of the company’s stock worth $88,000 after buying an additional 8,547 shares during the last quarter. XTX Topco Ltd increased its holdings in SKYX Platforms by 91.4% during the fourth quarter. XTX Topco Ltd now owns 53,075 shares of the company’s stock worth $115,000 after buying an additional 25,352 shares during the last quarter. Quadrature Capital Ltd raised its position in SKYX Platforms by 50.5% in the fourth quarter. Quadrature Capital Ltd now owns 22,577 shares of the company’s stock worth $49,000 after acquiring an additional 7,575 shares during the period. Odyssean LLC bought a new stake in SKYX Platforms in the fourth quarter worth about $95,000. Finally, Millennium Management LLC purchased a new position in SKYX Platforms in the fourth quarter valued at about $418,000. 11.79% of the stock is currently owned by institutional investors.

About SKYX Platforms

SKYX Platforms (NASDAQ:SKYX) provides comprehensive maintenance, repair and overhaul (MRO) services and operational support for commercial unmanned aerial systems (UAS). Through its digital platform, the company streamlines the booking, tracking and management of drone maintenance events, ensuring that operators maintain compliance with aviation regulations and industry best practices. SKYX Platforms’ offering is designed to reduce downtime, improve safety and extend the service life of UAS fleets across a wide range of applications.

The company’s service portfolio includes scheduled and unscheduled maintenance, component repair, spare parts provisioning, firmware and software updates, and field support.