The Vanguard Group, Inc. recently announced the acquisition of new stake in SKYX Platforms Corp. (NASDAQ:SKYX). This fresh investment now brings its stake to 2.14% valued currently at $4.45 million. In addition, BlackRock Fund Advisors raised its holdings by 0.46 million to 0.46 million shares. And Geode Capital Management LLC has lifted its position by 1,657.12% or 0.39 million shares – to 0.41 million shares.
With over 0.11 million SKYX Platforms Corp. (SKYX) shares trading Monday and a closing price of $3.24 on the day, the dollar volume was approximately $0.36 million. The shares have shown a negative half year performance of -20.20% and its price on 01/23/23 lost nearly -0.92%. Currently, there are 81.56M common shares owned by the public and among those 41.21M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SKYX have a consensus price objective of $15.00. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $15.00. The average price target is 78.4% above its recent price level and an upside to the estimated low will see the stock gain 78.4% over that period. But an upside of 78.4% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
Insiders at the company have transacted a total of 48 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 3,168,026 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 329,329 shares.
The top 3 mutual fund holders in SKYX Platforms Corp. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and SPDR S&P Kensho New Economies Com. Vanguard Total Stock Market Index owns 1.22 million shares of the company’s stock, all valued at over $3.07 million. Vanguard Extended Market Index Fu bought 821.0 shares to see its total holdings expand to 0.51 million shares valued at over $1.28 million and representing 0.62% of the shares outstanding. SPDR S&P Kensho New Economies Com sold 310.0 shares to bring its total holdings to over 0.24 million shares at a value of $0.61 million. SPDR S&P Kensho New Economies Com now owns shares totaling to 0.29% of the shares outstanding.
Shares of SKYX Platforms Corp. (NASDAQ: SKYX) opened at $3.35, up $0.08 from a prior closing price of $3.27. However, the script later moved the day high at 3.4900, down -0.92%. The company’s stock has a 5-day price change of 9.09% and -5.26% over the past three months. It has a 12-month low price of $1.35 and touched a high of $16.00 over the same period. SKYX has an average intraday trading volume of 146.61K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.20%, 26.43%, and -24.52% respectively.
Institutional ownership of SKYX Platforms Corp. (NASDAQ: SKYX) shares accounts for 4.00% of the company’s 81.56M shares outstanding. Mutual fund holders own 2.95%, while other institutional holders and individual stakeholders account for 34.57% and 1.28% respectively.
It has a market capitalization of $272.97M. The earnings-per-share (ttm) stands at -$0.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.32% over the week and 12.33% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate SKYX Platforms Corp. (SKYX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SKYX, a number of firms have released research notes about the stock. The Benchmark Company stated their Buy rating for the stock in a research note on July 28, 2022, with the firm’s price target at $15.