SKYX Platforms Corp. (NASDAQ:SKYX) Short Interest Down 36.4% in July

SKYX Platforms Corp. (NASDAQ:SKYX) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 3,150,000 shares, a decrease of 36.4% from the June 30th total of 4,950,000 shares. Based on an average daily volume of 374,600 shares, the short-interest ratio is presently 8.4 days. Approximately 5.4% of the company’s shares are short sold.

SKYX Platforms Price Performance

NASDAQ:SKYX remained flat at $1.10 on Friday. 372,423 shares of the company’s stock were exchanged, compared to its average volume of 699,501. The company has a quick ratio of 0.89, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The stock has a market cap of $110.19 million, a price-to-earnings ratio of -2.39 and a beta of -2,811.42. The business has a 50-day simple moving average of $0.95 and a two-hundred day simple moving average of $1.15. SKYX Platforms has a one year low of $0.72 and a one year high of $2.24.

SKYX Platforms (NASDAQ:SKYX) last released its earnings results on Tuesday, May 14th. The company reported ($0.10) earnings per share for the quarter. SKYX Platforms had a negative return on equity of 251.77% and a negative net margin of 53.31%. The firm had revenue of $18.98 million for the quarter, compared to analysts’ expectations of $20.00 million. As a group, equities analysts anticipate that SKYX Platforms will post -0.4 earnings per share for the current year.

Institutional Trading of SKYX Platforms

A number of large investors have recently made changes to their positions in SKYX. SlateStone Wealth LLC increased its stake in shares of SKYX Platforms by 1,496.6% during the fourth quarter. SlateStone Wealth LLC now owns 369,609 shares of the company’s stock worth $591,000 after buying an additional 346,459 shares during the period. Cantor Fitzgerald L. P. acquired a new position in SKYX Platforms in the fourth quarter valued at approximately $85,000. Newbridge Financial Services Group Inc. boosted its holdings in SKYX Platforms by 37.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 32,788 shares of the company’s stock valued at $52,000 after purchasing an additional 8,928 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in SKYX Platforms by 333.3% in the first quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock valued at $85,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Choreo LLC boosted its holdings in SKYX Platforms by 485.2% in the first quarter. Choreo LLC now owns 234,066 shares of the company’s stock valued at $307,000 after purchasing an additional 194,066 shares in the last quarter. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Noble Financial assumed coverage on shares of SKYX Platforms in a research note on Monday, April 29th. They set an “outperform” rating and a $5.00 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.