SKYX Platforms (NASDAQ:SKYX) Shares Up 7.9% – Still a Buy?

SKYX Platforms Corp. (NASDAQ:SKYX) shares shot up 7.9% on Monday . The company traded as high as $1.27 and last traded at $1.23. 814,659 shares traded hands during trading, an increase of 99% from the average session volume of 408,578 shares. The stock had previously closed at $1.14.

SKYX Platforms Stock Performance

The company has a debt-to-equity ratio of 2.22, a current ratio of 0.62 and a quick ratio of 0.47. The stock has a 50-day moving average price of $1.55 and a 200-day moving average price of $1.24. The firm has a market capitalization of $126.08 million, a PE ratio of -3.08 and a beta of -3,008.78.

Institutional Trading of SKYX Platforms

Several institutional investors have recently added to or reduced their stakes in SKYX. Geode Capital Management LLC lifted its position in shares of SKYX Platforms by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 712,391 shares of the company’s stock worth $827,000 after purchasing an additional 7,461 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of SKYX Platforms by 16.8% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 52,340 shares of the company’s stock valued at $61,000 after acquiring an additional 7,519 shares in the last quarter. Certuity LLC lifted its stake in SKYX Platforms by 60.6% during the fourth quarter. Certuity LLC now owns 28,259 shares of the company’s stock worth $33,000 after purchasing an additional 10,659 shares during the last quarter. SlateStone Wealth LLC boosted its holdings in SKYX Platforms by 169.8% in the fourth quarter. SlateStone Wealth LLC now owns 28,600 shares of the company’s stock worth $33,000 after purchasing an additional 18,000 shares during the period. Finally, Millennium Management LLC increased its stake in SKYX Platforms by 3.0% during the fourth quarter. Millennium Management LLC now owns 833,231 shares of the company’s stock valued at $967,000 after purchasing an additional 23,901 shares during the last quarter. 11.79% of the stock is owned by institutional investors and hedge funds.

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.