SKYX Platforms Corp (SKYX): Are Investors Missing The Big Picture?

SKYX Platforms Corp (NASDAQ:SKYX) does about 369.75K shares in volume on a normal day but saw 1131227 shares change hands in the recent trading day. The company now has a market cap of 76.59M USD. Its current market price is $0.76, marking a decrease of -12.11% compared to the previous close of $0.87. The 52 week high reached by this stock is $2.69 whilst the lowest price level in 52 weeks is $0.72.

SKYX Platforms Corp (SKYX) has a 20-day trading average at $0.9524 and the current price is -71.58% off the 52-week high compared with 5.74% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.9577 and its 200-day simple moving average is $1.3130. If we look at the stock’s price movements over the week, volatility stands at 8.10%, which increases to 9.99% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 34.57 to suggest the stock is neutral.

The consensus objective for the share price is $3.33, suggesting that the stock has a potential upside of 77.18% over the period.

2 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on April 29, 2024 when Noble Capital Markets initiated the stock to “Outperform” and issued a price target of $5.

SKYX Platforms Corp (SKYX) stock is down -17.53% over the week and -11.10% over the past month. Its price is -52.21% year-to-date and -70.48% over the past year.

To reach the target analysts have set, the stock logically needs to grow 77.18 percent from here.

The company has a return on investment of -84.75% and return on equity of -372.66%. The beta has a value of 2.86. Price to book ratio is 5.50 and price to sales ratio is 0.99.