Award Winning Smart Home Tech to Showcase at International Builder's Show
Source: Streetwise Reports
November 14, 2023 (Investorideas.com Newswire) SKYX Platforms Corp. is set to show its award winning smart home technology at the Homes of the Future event at the International Builder's Show. Read on to see why analysts like this company's stock.
SKYX Platforms Corp. (SKYX:NASDAQ) announced in a press release that its products will be featured in the Homes of the Future event, located in Las Vegas, and hosted by the International Builder's Show (February 27-29, 2024). The International Builder's Show will host approximately 70,000 visitors from around the world, and hosts demonstrations of products, workshops, panels, and other events related to the construction industry.
The company will showcase some of its new technology, which recently won five awards at the Consumer Electronic Show Awards in 2023.
Rani Kohen, the Executive Chairman of SKYX Platforms, commented, "We are excited to be a main event at IBS 2024 in the Homes of the Future exhibit, with a goal to keep enhancing our market penetration and demonstrating our innovative solution to leading builders internationally. Our advanced technology enables a high-end, safe, time-saving, instant smart home solution that will significantly enhance real-estate value for both developers and homeowners."
SKYX Platforms also announced that it will hold a call for investors Today, November 13, at 4:30 Eastern Standard Time, and that several company executives will be in attendance, including Rani Kohen, the Executive Chairman, and Steve Schmidt, the President. The company asks that attendees dial in ten minutes early. The number for attendees from North America to dial is +1-877-269-7751, the number for international callers is +1-201-389-0908, and there is also a webcast.
Market Expected to Grow by 27.07% by 2030
Grand View Research reports that the market size for smart home technology was US$79.16 billion in 2022, and analysts anticipate it growing by 27.07% by 2030. The report stated that major drivers of the market are a desire for connectivity and greater control over their environment on the part of consumers, as well as ease of use on the part of consumers.
Markets and Markets stated that it believes the market for smart home technology will show a compound annual growth rate of 10% from now until 2028. Markets and Markets identified a desire for more energy-efficient technologies, enabled by sensors and internet connectivity, as a major driver for the adoption of smart home tech.
Award-Winning Products
At the end of October, Chris Temple of The National Investor reviewed the company and said, "SKYX continues to demonstrate why it won five awards at this year's Consumer Electronics Show in Las Vegas," and referenced the recent news regarding the installation of the company's products in 1,000 homes in Florida.
SKYX has a number of catalysts to report at this time, according to its investor presentation. As the company has launched online sales of its products, it is now looking to broaden its retail sales, install more products in homes, apartments, and hotels, and, as a long-term goal, looking to license and sell products globally.
Ownership and Share Structure
Reuters provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 22.23% of the company. According to Reuters, Director Dov Shiff owns 16.34% of the company with 15.00 million shares, Steven Siegelaub owns 3.50% of the company with 3.21 million shares, Co-Chief Executive Officer John P Campi owns 1.30% of the company with 1.20 million shares, and Director Thomas J Ridge owns 1.09% of the company with 1.00 million shares.
Institutions own approximately 29.05% of the company, stated Reuters, as KRNB Holdings, LLC, owns 9.96% of the company with 9.14 million shares, Motek 7 SQL, LLC, owns 6.66% of the company with 6.12 million shares, Strul Associates LP owns 6.00% of the company with 5.51 million shares, BlackRock Institutional Trust Company, NA, owns 3.03% of the company with 2.78 million shares, The Vanguard Group, Inc., owns 2.33% of the company with 2.14 millions shares, and Geode Capital Management, LLC, owns 1.07% with 0.98 million shares.
According to Reuters, there are 91.85 million shares outstanding, with 48.96 million free float traded shares, while the company has a market cap of CA$122.16 million and trades in the 52-week period between CA$1.22 and CA$4.05.
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