Sky Harbour Group Co. (SKYH) – What Are Brokerages Saying About This Stock?

Sky Harbour Group Co. (NYSE:SKYH) has been given an average rating of “Buy” by the five ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $12.75.

A number of equities analysts have commented on the company. BTIG Research restated a “buy” rating and set a $13.00 price objective on shares of Sky Harbour Group in a research note on Monday, September 14th. Weiss Ratings upgraded Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded Sky Harbour Group from a “strong sell” rating to a “sell” rating in a research report on Sunday, September 20th. Finally, Roth Capital reissued a “buy” rating and set a $12.50 target price on shares of Sky Harbour Group in a report on Tuesday, August 18th.

Sky Harbour Group Trading Down 0.1%

Shares of SKYH opened at $9.49 on Wednesday. Sky Harbour Group has a 12 month low of $8.22 and a 12 month high of $11.70. The firm’s 50 day moving average is $10.23 and its 200-day moving average is $10.00. The stock has a market capitalization of $727.10 million, a PE ratio of -52.72 and a beta of 1.35.

Sky Harbour Group (NYSE:SKYH) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $9.44 million. Sky Harbour Group had a net margin of 2.73% and a return on equity of 6.45%. Equities research analysts predict that Sky Harbour Group will post -0.52 earnings per share for the current fiscal year.

Insider Transactions at Sky Harbour Group

In related news, Director Andrew Gessow purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $10.85 per share, with a total value of $54,250.00. Following the completion of the purchase, the director directly owned 22,910 shares in the company, valued at $248,573.50. This trade represents a 27.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Francisco Gonzalez acquired 3,850 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were purchased at an average cost of $9.25 per share, with a total value of $35,612.50. Following the transaction, the chief financial officer directly owned 718,538 shares of the company’s stock, valued at $6,646,476.50. This trade represents a 0.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 13,950 shares of company stock valued at $139,568. 40.70% of the stock is owned by insiders.

Institutional Trading of Sky Harbour Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Altai Capital Management L.P. bought a new position in Sky Harbour Group in the second quarter valued at approximately $7,039,000. Bank of America Corp DE raised its position in Sky Harbour Group by 1.8% during the first quarter. Bank of America Corp DE now owns 374,021 shares of the company’s stock valued at $3,602,000 after purchasing an additional 6,545 shares in the last quarter. RMR Capital Management LLC acquired a new position in Sky Harbour Group during the first quarter valued at approximately $1,170,000. Squarepoint Ops LLC lifted its stake in Sky Harbour Group by 81.7% during the second quarter. Squarepoint Ops LLC now owns 100,888 shares of the company’s stock worth $993,000 after purchasing an additional 45,349 shares during the last quarter. Finally, Yorkville Advisors Global LP lifted its stake in Sky Harbour Group by 80.0% during the first quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company’s stock worth $867,000 after purchasing an additional 40,000 shares during the last quarter. Institutional investors own 14.75% of the company’s stock.

About Sky Harbour Group

Sky Harbour Group Corporation develops and operates aviation infrastructure for business and general aviation. The company focuses on building and managing private hangar campuses designed to provide secure aircraft storage and related facilities for business aircraft owners and operators.

Its campuses typically offer dedicated aircraft hangars, office and support space, and other aviation-oriented amenities. Sky Harbour’s business model is centered on developing properties at strategically located airports and leasing or providing access to the facilities for private aviation customers.

The company is building a network of aviation campuses across the United States, with a focus on serving major metropolitan areas and regional business aviation markets.