SKYX Platforms Corp. (NASDAQ: SKYX) stock fell -16.25% on Friday to $3.02 against a previous-day closing price of $3.60. With 1.32 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.73 million shares. During the session, the Electrical Equipment & Parts company that operates in wider Industrials sector, reached to the highest price of $3.8400 whereas the lowest price it dropped to was $2.9101. The 52-week range on SKYX shows that it touched its highest point at $16.00 and its lowest point at $1.82 during that stretch.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SKYX was down-trending over the past week, with a drop of -53.11%, but this was up by 12.08% over a month.
Float and Shares Shorts:
At present, 72.82 million SKYX shares are outstanding with a float of 40.96 million shares on hand for trading. On Jul 14, 2022, short shares totaled 0.32 million, which was 0.40% higher than short shares on Jun 14, 2022. In addition to Mr. Ran Roland Kohen as the firm’s Founder & Exec. Chairman, Mr. John P. Campi serves as its Chief Exec. Officer.
Institutional Ownership:
Through their ownership of 0.64% of SKYX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 35.75% of SKYX, in contrast to 1.02% held by mutual funds. Shares owned by individuals account for 0.03%. As the largest shareholder in SKYX with 0.38% of the stake, Slatestone Wealth LLC holds 309,667 shares worth 309,667. A second-largest stockholder of SKYX, Millennium Management LLC, holds 165,313 shares, controlling over 0.21% of the firm’s shares. Ergoteles LLC is the third largest shareholder in SKYX, holding 125,647 shares or 0.16% stake. With a 0.03% stake in SKYX, the Fidelity Nasdaq Composite Index F is the largest stakeholder. A total of 23,559 shares are owned by the mutual fund manager. The Nationwide Multi Cap Portfolio, which owns about 0.00% of SKYX stock, is the second-largest Mutual Fund holder. It holds 471 shares valued at 942.0. Series Portfolios Trust – Weiss A holds 0.00% of the stake in SKYX, owning 73 shares worth 146.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2022, SKYX reported revenue of $6.97k and operating income of -$11.95M. Over the past year, revenue came in at -$50.10k while operating income stood at -$16.28M. It generated -$11.86M net income for the quarter, which came to -$16.60M over the last twelve months. The EBITDA in the recently reported quarter was -$11.92M and diluted EPS was -$0.23. EBITDA for the full year was -$16.20M.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SKYX since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SKYX analysts setting a high price target of $15.00 and a low target of $15.00, the average target price over the next 12 months is $15.00. Based on these targets, SKYX could surge 396.69% to reach the target high and rise by 396.69% to reach the target low. Reaching the average price target will result in a growth of 396.69% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. Analysts have provided yearly estimates in a range of -$0.29 being high and -$0.29 being low. For SKYX, this leads to a yearly average estimate of -$0.29. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate.
Summary of Insider Activity:
Insiders traded SKYX stock several times over the past three months with 19 Buys and 1 Sells. In these transactions, 106,659 shares were bought while 8,912 shares were sold. The number of buy transactions has increased to 36 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 3,113,613 while 9,928 shares were sold.
