SKYX Platforms (NASDAQ:SKYX) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

SKYX Platforms (NASDAQ:SKYX) announced its quarterly earnings data on Monday. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03, Yahoo Finance reports. SKYX Platforms had a negative return on equity of 251.77% and a negative net margin of 53.31%. The business had revenue of $21.45 million during the quarter, compared to analysts’ expectations of $22.00 million. During the same period in the previous year, the firm earned ($0.15) earnings per share.

SKYX Platforms Trading Down 2.0 %

SKYX stock traded down $0.02 during midday trading on Wednesday, hitting $1.00. 30,728 shares of the company’s stock were exchanged, compared to its average volume of 331,155. SKYX Platforms has a one year low of $0.72 and a one year high of $2.08. The stock’s fifty day moving average price is $0.98 and its 200-day moving average price is $1.10. The company has a market cap of $100.17 million, a PE ratio of -2.22 and a beta of -2,809.07. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.05.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Noble Financial assumed coverage on SKYX Platforms in a research report on Monday, April 29th. They set an “outperform” rating and a $5.00 target price for the company. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of SKYX Platforms in a report on Tuesday.

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.