SKYX Platforms (NASDAQ:SKYX) Posts Earnings Results, Beats Expectations By $0.01 EPS

SKYX Platforms (NASDAQ:SKYX) announced its quarterly earnings results on Tuesday. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01, Zacks reports. SKYX Platforms had a negative net margin of 44.92% and a negative return on equity of 291.41%. The firm had revenue of $22.17 million during the quarter, compared to analyst estimates of $23.70 million. During the same period in the previous year, the business posted ($0.08) earnings per share.

SKYX Platforms Price Performance

SKYX Platforms stock traded down $0.09 during mid-day trading on Thursday, reaching $1.13. 220,708 shares of the company’s stock traded hands, compared to its average volume of 338,481. The stock has a 50 day moving average of $1.09 and a two-hundred day moving average of $1.01. The company has a market cap of $115.25 million, a price-to-earnings ratio of -2.84 and a beta of -2,826.85. 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.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SKYX. Roth Mkm assumed coverage on shares of SKYX Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $2.00 target price on the stock. Roth Capital raised SKYX Platforms to a “strong-buy” rating in a report on Tuesday, September 10th. Finally, Benchmark restated a “buy” rating and set a $5.00 price target on shares of SKYX Platforms in a research note 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.