Sky Harbour Group (NYSE:SKYH) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Sky Harbour Group Co. (NYSE:SKYH) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $9.76 and traded as high as $9.86. Sky Harbour Group shares last traded at $9.8290, with a volume of 128,988 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SKYH. BTIG Research restated a “buy” rating and set a $13.00 price objective on shares of Sky Harbour Group in a report on Thursday, October 22nd. Weiss Ratings lowered Sky Harbour Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Roth Capital restated a “buy” rating and issued a $12.50 price objective on shares of Sky Harbour Group in a report on Tuesday, August 18th. Finally, Wall Street Zen raised Sky Harbour Group from a “strong sell” rating to a “sell” rating in a research note on Sunday, September 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.75.

Sky Harbour Group Price Performance

The firm’s 50-day moving average price is $9.89 and its 200-day moving average price is $9.76. The company has a market cap of $763.87 million, a price-to-earnings ratio of -55.39 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH) last posted its earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.10. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $9.44 million. Sky Harbour Group had a net margin of 2.73% and a return on equity of 6.45%. On average, sell-side analysts anticipate that Sky Harbour Group Co. will post -0.52 earnings per share for the current year.

Insider Activity

In related news, Director Andrew Gessow bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $10.85 per share, for a total transaction of $54,250.00. Following the acquisition, the director owned 22,910 shares in the company, valued at $248,573.50. This represents a 27.92% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Francisco Gonzalez purchased 3,850 shares of Sky Harbour Group stock in a transaction that occurred on Friday, October 2nd. The shares were bought at an average cost of $9.25 per share, for a total transaction of $35,612.50. Following the completion of the transaction, the chief financial officer directly owned 718,538 shares in the company, valued at $6,646,476.50. This represents a 0.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 13,950 shares of company stock worth $139,568. Company insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On Sky Harbour Group

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Sky Harbour Group by 497.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,379 shares of the company’s stock valued at $32,000 after purchasing an additional 2,813 shares during the period. Bank of America Corp DE increased its position in Sky Harbour Group by 1.8% in the first quarter. Bank of America Corp DE now owns 374,021 shares of the company’s stock worth $3,602,000 after buying an additional 6,545 shares during the period. Lawson Kroeker Investment Management Inc. NE increased its position in Sky Harbour Group by 6.1% in the third quarter. Lawson Kroeker Investment Management Inc. NE now owns 297,214 shares of the company’s stock worth $2,815,000 after buying an additional 17,125 shares during the period. Yorkville Advisors Global LP lifted its stake in Sky Harbour Group by 80.0% in the first quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company’s stock valued at $867,000 after buying an additional 40,000 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Sky Harbour Group by 81.7% in the second quarter. Squarepoint Ops LLC now owns 100,888 shares of the company’s stock valued at $993,000 after buying an additional 45,349 shares during the last quarter. 14.75% of the stock is owned by institutional investors.

About Sky Harbour Group

Sky Harbour Group Corporation develops, owns and operates private aviation hangar campuses at airports in the United States. The company focuses on providing purpose-built infrastructure for business aircraft owners and operators, with facilities designed to support the storage, maintenance and operation of private aircraft.

Its airport campuses generally include individual or multi-aircraft hangars, along with amenities such as pilot and crew lounges, office space, parking and other aviation-related services.