SKYX Platforms Corp (SKYX) Shares Plummet Below 1-Year High

The stock price of SKYX Platforms Corp (NASDAQ: SKYX) has dropped by -12.30 compared to previous close of 1.26. Despite this, the company has seen a fall of -12.30% in its stock price over the last five trading days. Seeking Alpha reported 2024-04-01 that SKYX Platforms Corp. (SKYX) Q4 2023 Earnings Call Transcript

Is It Worth Investing in SKYX Platforms Corp (NASDAQ: SKYX) Right Now?

Moreover, the 36-month beta value for SKYX is 2.97. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for SKYX is 49.94M and currently, short sellers hold a 8.88% of that float. On April 02, 2024, SKYX’s average trading volume was 272.50K shares.

SKYX’s Market Performance

The stock of SKYX Platforms Corp (SKYX) has seen a -12.30% decrease in the past week, with a -12.99% drop in the past month, and a -30.94% fall in the past quarter. The volatility ratio for the week is 7.73%, and the volatility levels for the past 30 days are at 7.48% for SKYX. The simple moving average for the past 20 days is -12.16% for SKYX’s stock, with a -34.92% simple moving average for the past 200 days.

Analysts’ Opinion of SKYX

Many brokerage firms have already submitted their reports for SKYX stocks, with The Benchmark Company repeating the rating for SKYX by listing it as a “Buy.” The predicted price for SKYX in the upcoming period, according to The Benchmark Company is $15 based on the research report published on July 28, 2022 of the previous year 2022.

SKYX Trading at -19.69% from the 50-Day Moving Average

After a stumble in the market that brought SKYX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -72.10% of loss for the given period.

Volatility was left at 7.48%, however, over the last 30 days, the volatility rate increased by 7.73%, as shares sank -13.61% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -34.95% lower at present.

During the last 5 trading sessions, SKYX fell by -14.29%, which changed the moving average for the period of 200-days by -58.78% in comparison to the 20-day moving average, which settled at $1.2495. In addition, SKYX Platforms Corp saw -30.94% in overturn over a single year, with a tendency to cut further losses.

Stock Fundamentals for SKYX

Current profitability levels for the company are sitting at:

  • -0.83 for the present operating margin
  • 0.31 for the gross margin

The net margin for SKYX Platforms Corp stands at -0.92. The total capital return value is set at -0.65. Equity return is now at value -326.44, with -66.50 for asset returns.

Based on SKYX Platforms Corp (SKYX), the company’s capital structure generated 0.68 points at debt to capital in total, while cash flow to debt ratio is standing at -0.39. The debt to equity ratio resting at 2.14. The interest coverage ratio of the stock is -10.26.

Currently, EBITDA for the company is -37.83 million with net debt to EBITDA at -0.72. When we switch over and look at the enterprise to sales, we see a ratio of 3.34. The receivables turnover for the company is 12.07for trailing twelve months and the total asset turnover is 0.47. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.12.

Conclusion

To wrap up, the performance of SKYX Platforms Corp (SKYX) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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