SKYX Platforms (NASDAQ:SKYX) Issues Quarterly Earnings Results

SKYX Platforms (NASDAQ:SKYX) issued its earnings results on Tuesday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business posted ($0.08) EPS.

SKYX Platforms Price Performance

Shares of NASDAQ SKYX traded down $0.02 during trading on Thursday, hitting $1.19. 448,454 shares of the company were exchanged, compared to its average volume of 339,512. SKYX Platforms has a 1 year low of $0.72 and a 1 year high of $1.95. The company has a market cap of $121.90 million, a price-to-earnings ratio of -2.98 and a beta of -2,826.85. The firm’s fifty day moving average price is $1.10 and its 200 day moving average price is $1.01. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.77 and a quick ratio of 0.62.

Analyst Ratings Changes

A number of brokerages have weighed in on SKYX. Roth Capital upgraded shares of SKYX Platforms to a “strong-buy” rating in a research report on Tuesday, September 10th. Roth Mkm assumed 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. Finally, Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a research report on Tuesday, August 13th.

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.