Noble Financial Weighs in on SKYX Platforms FY2024 Earnings

SKYX Platforms Corp. (NASDAQ:SKYX) – Investment analysts at Noble Financial boosted their FY2024 earnings per share (EPS) estimates for SKYX Platforms in a report released on Wednesday, November 13th. Noble Financial analyst P. Mccann now anticipates that the company will post earnings per share of ($0.34) for the year, up from their prior forecast of ($0.36). The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.34) per share. Noble Financial also issued estimates for SKYX Platforms’ FY2025 earnings at ($0.19) EPS.

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

SKYX Platforms Price Performance

Shares of NASDAQ:SKYX opened at $1.19 on Friday. SKYX Platforms has a 12 month low of $0.72 and a 12 month high of $1.95. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.22. The stock has a market cap of $121.98 million, a P/E ratio of -2.98 and a beta of -2,826.85. The company has a 50 day moving average of $1.10 and a 200 day moving average of $1.01.

SKYX Platforms (NASDAQ:SKYX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. SKYX Platforms had a negative return on equity of 353.92% and a negative net margin of 44.92%. The business had revenue of $22.17 million during the quarter, compared to analyst estimates of $23.70 million. During the same quarter in the previous year, the firm earned ($0.08) EPS.

Institutional Trading of SKYX Platforms

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in SKYX Platforms by 11.4% during the first quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock valued at $3,511,000 after purchasing an additional 273,672 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its holdings in shares of SKYX Platforms by 53.8% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 100,000 shares of the company’s stock valued at $95,000 after buying an additional 35,000 shares in the last quarter. Choreo LLC lifted its position in SKYX Platforms by 22.5% in the 2nd quarter. Choreo LLC now owns 286,746 shares of the company’s stock worth $266,000 after buying an additional 52,680 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in SKYX Platforms in the second quarter worth approximately $79,000. 11.79% of the stock is owned by institutional investors.

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.