SKYX Platforms (NASDAQ:SKYX) Trading Up 7.9% – Should You Buy?

SKYX Platforms Corp. (NASDAQ:SKYX)’s stock price shot up 7.9% during mid-day trading on Monday . The company traded as high as $1.27 and last traded at $1.23. 814,659 shares traded hands during trading, an increase of 99% from the average session volume of 408,578 shares. The stock had previously closed at $1.14.

SKYX Platforms Stock Up 5.1 %

The firm has a market cap of $126.08 million, a price-to-earnings ratio of -3.08 and a beta of -3,008.78. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.62 and a quick ratio of 0.47. The stock has a 50-day moving average of $1.54 and a 200-day moving average of $1.25.

Institutional Investors Weigh In On SKYX Platforms

A number of large investors have recently added to or reduced their stakes in the stock. Connective Capital Management LLC acquired a new stake in shares of SKYX Platforms in the 4th quarter valued at $153,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of SKYX Platforms by 16.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 52,340 shares of the company’s stock valued at $61,000 after purchasing an additional 7,519 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of SKYX Platforms by 3.0% in the 4th quarter. Millennium Management LLC now owns 833,231 shares of the company’s stock valued at $967,000 after purchasing an additional 23,901 shares in the last quarter. Jane Street Group LLC bought a new position in shares of SKYX Platforms in the 4th quarter valued at $62,000. Finally, Northern Trust Corp lifted its stake in shares of SKYX Platforms by 66.3% in the 4th quarter. Northern Trust Corp now owns 201,276 shares of the company’s stock valued at $233,000 after acquiring an additional 80,245 shares during the last quarter. Institutional investors and hedge funds own 11.79% of the company’s stock.

About SKYX Platforms

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.