SKYX Platforms (NASDAQ:SKYX) Issues Earnings Results

SKYX Platforms (NASDAQ:SKYX) posted its quarterly 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. The company had revenue of $22.17 million during the quarter, compared to analysts’ expectations of $23.70 million. SKYX Platforms had a negative return on equity of 291.41% and a negative net margin of 44.92%. During the same quarter in the previous year, the business earned ($0.08) EPS.

SKYX Platforms Trading Down 3.7 %

Shares of SKYX stock traded down $0.05 during mid-day trading on Thursday, reaching $1.17. The company’s stock had a trading volume of 261,596 shares, compared to its average volume of 338,667. The company’s 50 day simple moving average is $1.09 and its 200-day simple moving average is $1.01. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.88. SKYX Platforms has a 12-month low of $0.72 and a 12-month high of $1.95. The firm has a market capitalization of $119.34 million, a PE ratio of -2.84 and a beta of -2,826.85.

Wall Street Analysts Forecast Growth

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

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.