771,515 Shares in SKYX Platforms Corp. $SKYX Acquired by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC acquired a new position in shares of SKYX Platforms Corp. (NASDAQ:SKYX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 771,515 shares of the company’s stock, valued at approximately $853,000. Clear Harbor Asset Management LLC owned 0.57% of SKYX Platforms at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKYX. Goldman Sachs Group Inc. lifted its position in shares of SKYX Platforms by 685.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 264,724 shares of the company’s stock valued at $302,000 after acquiring an additional 231,000 shares during the period. Jane Street Group LLC increased its position in shares of SKYX Platforms by 258.5% in the first quarter. Jane Street Group LLC now owns 190,265 shares of the company’s stock worth $217,000 after purchasing an additional 137,193 shares during the period. Geode Capital Management LLC increased its position in shares of SKYX Platforms by 96.9% in the second quarter. Geode Capital Management LLC now owns 1,460,777 shares of the company’s stock worth $1,527,000 after purchasing an additional 718,712 shares during the period. New York State Common Retirement Fund acquired a new position in SKYX Platforms in the second quarter valued at about $82,000. Finally, Invesco Ltd. bought a new stake in SKYX Platforms during the second quarter worth about $34,000. 11.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SKYX has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of SKYX Platforms from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SKYX Platforms in a report on Friday, July 17th. Noble Financial raised shares of SKYX Platforms to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Lake Street Capital reduced their price target on shares of SKYX Platforms from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.67.

SKYX Platforms Price Performance

SKYX stock opened at $1.15 on Monday. The company has a fifty day moving average price of $1.13 and a 200-day moving average price of $1.35. The company has a market capitalization of $155.74 million, a P/E ratio of -4.26 and a beta of -3,491.50. SKYX Platforms Corp. has a 52-week low of $0.95 and a 52-week high of $3.29. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.28 and a current ratio of 1.46.

SKYX Platforms (NASDAQ:SKYX) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $25.27 million for the quarter, compared to the consensus estimate of $24.07 million. As a group, equities analysts expect that SKYX Platforms Corp. will post -0.22 EPS for the current year.

About SKYX Platforms

SKYX Platforms (NASDAQ:SKYX) provides comprehensive maintenance, repair and overhaul (MRO) services and operational support for commercial unmanned aerial systems (UAS). Through its digital platform, the company streamlines the booking, tracking and management of drone maintenance events, ensuring that operators maintain compliance with aviation regulations and industry best practices. SKYX Platforms’ offering is designed to reduce downtime, improve safety and extend the service life of UAS fleets across a wide range of applications.

The company’s service portfolio includes scheduled and unscheduled maintenance, component repair, spare parts provisioning, firmware and software updates, and field support.