SKYX Platforms FY2024 EPS Forecast Reduced by Roth Capital

SKYX Platforms Corp. (NASDAQ:SKYX) – Equities researchers at Roth Capital lowered their FY2024 earnings per share estimates for SKYX Platforms in a research report issued on Wednesday, November 13th. Roth Capital analyst G. Sweeney now anticipates that the company will earn ($0.33) per share for the year, down from their previous forecast of ($0.32). Roth Capital has a “Strong-Buy” rating on the stock. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.34) per share. Roth Capital also issued estimates for SKYX Platforms’ Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.06) EPS and FY2026 earnings at ($0.12) EPS.

Other equities analysts have also issued research reports about the company. Benchmark reissued a “buy” rating and issued a $5.00 price objective on shares of SKYX Platforms in a research note on Tuesday, August 13th. Roth Mkm initiated coverage on shares of SKYX Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $2.00 price target on the stock.

SKYX Platforms Stock Performance

NASDAQ:SKYX opened at $1.19 on Friday. SKYX Platforms has a 1 year low of $0.72 and a 1 year high of $1.95. The firm has a 50 day moving average of $1.10 and a 200-day moving average of $1.01. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.22.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in SKYX Platforms by 11.4% in the first quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock valued at $3,511,000 after acquiring an additional 273,672 shares during the last quarter. Choreo LLC boosted its stake in shares of SKYX Platforms by 22.5% in the 2nd quarter. Choreo LLC now owns 286,746 shares of the company’s stock valued at $266,000 after purchasing an additional 52,680 shares during the last quarter. Matrix Asset Advisors Inc. NY grew its position in shares of SKYX Platforms by 30.0% during the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 130,000 shares of the company’s stock worth $110,000 after buying an additional 30,000 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of SKYX Platforms during the 2nd quarter worth approximately $79,000. 11.79% of the stock is currently owned by institutional investors.

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.