An analyst sees good growth prospects for SKYX Platforms Corp. (SKYX)

SKYX Platforms Corp. (NASDAQ: SKYX) stock fell -0.92% on Monday to $3.24 against a previous-day closing price of $3.27. With 0.11 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.15 million shares. During the session, the Electrical Equipment & Parts company that operates in wider Industrials sector, reached to the highest price of $3.4900 whereas the lowest price it dropped to was $3.1500. The 52-week range on SKYX shows that it touched its highest point at $16.00 and its lowest point at $1.35 during that stretch. It currently has a 1-year price target of $15.00.

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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 up-trending over the past week, with a rise of 9.09%, but this was up by 53.55% over a month. Three-month performance dropped to -5.26% while six-month performance fell -20.20%.

Float and Shares Shorts:

At present, 81.56 million SKYX shares are outstanding with a float of 41.21 million shares on hand for trading. On Dec 29, 2022, short shares totaled 0.59 million, which was 0.71% higher than short shares on Nov 29, 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 4.23% of SKYX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 34.57% of SKYX, in contrast to 2.95% held by mutual funds. Shares owned by individuals account for 1.28%. As the largest shareholder in SKYX with 2.14% of the stake, The Vanguard Group, Inc. holds 1,767,476 shares worth 1,767,476. A second-largest stockholder of SKYX, BlackRock Fund Advisors, holds 457,827 shares, controlling over 0.55% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in SKYX, holding 413,960 shares or 0.50% stake. With a 1.47% stake in SKYX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,219,153 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.62% of SKYX stock, is the second-largest Mutual Fund holder. It holds 509,538 shares valued at 1.28 million. SPDR S&P Kensho New Economies Com holds 0.29% of the stake in SKYX, owning 241,689 shares worth 0.61 million.

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 Sep 29, 2022, SKYX reported revenue of $7.39k and operating income of -$4.56M. The EBITDA in the recently reported quarter was -$4.54M and diluted EPS was -$0.06.

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 362.96% to reach the target high and rise by 362.96% to reach the target low. Reaching the average price target will result in a growth of 362.96% 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.

Summary of Insider Activity:

Insiders traded SKYX stock several times over the past three months with 3 Buys and 1 Sells. In these transactions, 46,285 shares were bought while 862 shares were sold. The number of buy transactions has increased to 43 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 3,168,026 while 329,329 shares were sold.

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