Can SKYX Platforms Corp (NASDAQ: SKYX) Shares Make A Higher Price Run?

In the last trading session, 1.28 million shares of the SKYX Platforms Corp (NASDAQ:SKYX) were traded, and its beta was 2.97. Most recently the company’s share price was $1.18, and it changed around -$0.08 or -6.35% from the last close, which brings the market valuation of the company to $108.76M. SKYX currently trades at a discount to its 52-week high of $3.96, offering almost -235.59% off that amount. The share price’s 52-week low was $1.12, which indicates that the current value has risen by an impressive 5.08% since then. We note from SKYX Platforms Corp’s average daily trading volume that its 10-day average is 0.42 million shares, with the 3-month average coming to 272.50K.

SKYX Platforms Corp (NASDAQ:SKYX) trade information

Instantly SKYX has showed a red trend with a performance of -6.35% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -26.25% year-to-date, but still down -6.35% over the last five days. On the other hand, SKYX Platforms Corp (NASDAQ:SKYX) is -7.09% down in the 30-day period. We can see from the shorts that 4.43 million shares have been sold at a short interest cover period of 12.09 day(s).

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SKYX Platforms Corp (SKYX) estimates and forecasts

The year-over-year growth rate is expected to be 98.70%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $27.83 million in revenue for the current quarter. 2 analysts expect SKYX Platforms Corp to make $27.95 million in revenue for the quarter ending Jun 2024.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.95%.

SKYX Dividends

SKYX Platforms Corp’s next quarterly earnings report is expected to be released in May.

SKYX Platforms Corp (NASDAQ:SKYX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 45.74% of SKYX Platforms Corp shares, and 11.89% of them are in the hands of institutional investors. The stock currently has a share float of 21.92%. SKYX Platforms Corp stock is held by 77 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 4.55% of the shares, which is about 3.03 million shares worth $8.07 million.

Vanguard Group Inc, with 3.21% or 2.14 million shares worth $5.69 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 1.22 million shares worth $3.24 million, making up 1.83% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 1.14 million shares worth around $2.0 million, which represents about 1.72% of the total shares outstanding.