SKYX Platforms (NASDAQ:SKYX) Announces Earnings Results

SKYX Platforms (NASDAQ:SKYX) posted its earnings results on Tuesday. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01, Zacks reports. SKYX Platforms had a negative return on equity of 291.41% and a negative net margin of 44.92%. The company had revenue of $22.17 million during the quarter, compared to analyst estimates of $23.70 million. During the same period in the prior year, the company earned ($0.08) earnings per share.

SKYX Platforms Price Performance

Shares of NASDAQ SKYX traded down $0.07 during trading on Thursday, hitting $1.14. The company had a trading volume of 256,525 shares, compared to its average volume of 338,644. SKYX Platforms has a 52 week low of $0.72 and a 52 week high of $1.95. The business’s 50-day moving average is $1.09 and its 200 day moving average is $1.01. The company has a market cap of $116.78 million, a P/E ratio of -2.84 and a beta of -2,826.85. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.62 and a current ratio of 0.77.

Analysts Set New Price Targets

SKYX has been the subject of several analyst reports. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a report on Tuesday, August 13th. Roth Capital upgraded shares of SKYX Platforms to a “strong-buy” rating in a research report on Tuesday, September 10th. Finally, Roth Mkm began coverage on SKYX Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $2.00 price target on the 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.