Noble Financial Initiates Coverage on SKYX Platforms (NASDAQ:SKYX)

Equities researchers at Noble Financial assumed coverage on shares of SKYX Platforms (NASDAQ:SKYX) in a report issued on Monday, Marketbeat.com reports. The firm set an “outperform” rating and a $5.00 price target on the stock. Noble Financial’s price objective would indicate a potential upside of 385.44% from the company’s previous close.

SKYX Platforms Price Performance

SKYX Platforms stock opened at $1.03 on Monday. The stock has a market cap of $99.78 million, a PE ratio of -2.24 and a beta of -2,726.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.13 and a quick ratio of 0.99. The stock’s fifty day moving average is $1.15 and its two-hundred day moving average is $1.44. SKYX Platforms has a 1-year low of $0.72 and a 1-year high of $3.85.

SKYX Platforms (NASDAQ:SKYX) last issued its quarterly earnings data on Monday, April 1st. The company reported ($0.14) earnings per share (EPS) for the quarter. SKYX Platforms had a negative return on equity of 260.83% and a negative net margin of 67.61%. The firm had revenue of $22.17 million for the quarter.

Institutional Investors Weigh In On SKYX Platforms

A number of hedge funds have recently added to or reduced their stakes in the company. SlateStone Wealth LLC grew its holdings in 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 acquiring an additional 346,459 shares during the period. Cantor Fitzgerald L. P. purchased a new stake in shares of SKYX Platforms during the 4th quarter worth $85,000. Matrix Asset Advisors Inc. NY grew its stake in shares of SKYX Platforms by 333.3% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 65,000 shares of the company’s stock worth $85,000 after purchasing an additional 50,000 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in shares of SKYX Platforms by 79.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 63,200 shares of the company’s stock valued at $90,000 after purchasing an additional 28,000 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of 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 during the period. Institutional investors and hedge funds own 11.79% of the company’s stock.

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.