SKYX Platforms Corp. (NASDAQ:SKYX) Short Interest Down 36.4% in July

SKYX Platforms Corp. (NASDAQ:SKYX) was the target of a large decline in short interest in July. As of July 15th, there was short interest totalling 3,150,000 shares, a decline of 36.4% from the June 30th total of 4,950,000 shares. Based on an average daily trading volume, of 374,600 shares, the days-to-cover ratio is presently 8.4 days. Currently, 5.4% of the company’s stock are short sold.

Hedge Funds Weigh In On SKYX Platforms

Several large investors have recently bought and sold shares of SKYX. Vanguard Group Inc. increased its holdings in shares of SKYX Platforms by 11.4% during the 1st quarter. Vanguard Group Inc. now owns 2,679,872 shares of the company’s stock worth $3,511,000 after purchasing an additional 273,672 shares during the period. SlateStone Wealth LLC grew its position 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 buying an additional 346,459 shares in the last quarter. Choreo LLC increased its stake in SKYX Platforms by 485.2% during the first quarter. Choreo LLC now owns 234,066 shares of the company’s stock valued at $307,000 after acquiring an additional 194,066 shares during the period. Matrix Asset Advisors Inc. NY lifted its position in shares of SKYX Platforms by 53.8% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 100,000 shares of the company’s stock worth $95,000 after acquiring an additional 35,000 shares during the period. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of SKYX Platforms during the 4th quarter worth approximately $85,000. 11.79% of the stock is currently owned by institutional investors and hedge funds.

SKYX Platforms Stock Performance

SKYX Platforms stock remained flat at $1.10 during trading hours on Friday. The company’s stock had a trading volume of 372,423 shares, compared to its average volume of 699,501. The firm has a market capitalization of $110.19 million, a price-to-earnings ratio of -2.39 and a beta of -2,811.42. The company has a current ratio of 1.05, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The firm has a 50 day moving average price of $0.95 and a 200-day moving average price of $1.15. SKYX Platforms has a 52-week low of $0.72 and a 52-week high of $2.24.

SKYX Platforms (NASDAQ:SKYX) last announced its earnings results on Tuesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter. SKYX Platforms had a negative return on equity of 251.77% and a negative net margin of 53.31%. The company had revenue of $18.98 million for the quarter, compared to the consensus estimate of $20.00 million. As a group, research analysts forecast that SKYX Platforms will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Noble Financial began 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.

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.