SKYX Platforms (NASDAQ:SKYX) Research Coverage Started at Lake Street Capital

Lake Street Capital started coverage on shares of SKYX Platforms (NASDAQ:SKYX) in a report released on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $5.00 price objective on the stock.

Several other brokerages also recently weighed in on SKYX. Wall Street Zen raised SKYX Platforms from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Roth Mkm reissued a “buy” rating and issued a $5.00 price objective (up from $4.25) on shares of SKYX Platforms in a report on Thursday, January 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SKYX Platforms in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.00.

SKYX Platforms Price Performance

NASDAQ:SKYX opened at $1.88 on Thursday. The company’s fifty day moving average price is $2.26 and its 200-day moving average price is $1.83. SKYX Platforms has a 1-year low of $0.88 and a 1-year high of $3.29. The firm has a market capitalization of $228.44 million, a P/E ratio of -5.37 and a beta of -3,941.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of SKYX Platforms by 96.9% in the second quarter. Geode Capital Management LLC now owns 1,460,777 shares of the company’s stock worth $1,527,000 after acquiring an additional 718,712 shares during the period. Daytona Street Capital LLC acquired a new stake in shares of SKYX Platforms during the 4th quarter valued at about $881,000. Renaissance Technologies LLC increased its stake in shares of SKYX Platforms by 741.7% in the 4th quarter. Renaissance Technologies LLC now owns 355,213 shares of the company’s stock valued at $771,000 after purchasing an additional 313,013 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of SKYX Platforms by 163.0% in the 2nd quarter. Corient Private Wealth LLC now owns 446,981 shares of the company’s stock valued at $467,000 after purchasing an additional 277,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in SKYX Platforms by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,326,427 shares of the company’s stock worth $3,726,000 after purchasing an additional 235,625 shares during the period. Hedge funds and other institutional investors own 11.79% of the company’s stock.

SKYX Platforms Company Profile

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.