Sky Harbour Group (NYSE:SKYH) Sees Large Volume Increase – Time to Buy?

Shares of Sky Harbour Group Co. (NYSE:SKYH) saw unusually-high trading volume on Friday . Approximately 103,649 shares traded hands during trading, a decline of 19% from the previous session’s volume of 127,695 shares.The stock last traded at $8.7330 and had previously closed at $9.46.

Wall Street Analyst Weigh In

SKYH has been the topic of several recent research reports. Weiss Ratings initiated coverage on Sky Harbour Group in a research report on Monday, March 23rd. They set a “sell (d+)” rating on the stock. BTIG Research restated a “buy” rating and set a $13.00 target price on shares of Sky Harbour Group in a research note on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Sky Harbour Group Trading Down 11.0%

The stock has a 50-day simple moving average of $9.93 and a 200 day simple moving average of $9.47. The company has a market cap of $640.89 million, a price-to-earnings ratio of 841.50 and a beta of 1.39.

Sky Harbour Group (NYSE:SKYH) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Sky Harbour Group had a return on equity of 8.03% and a net margin of 68.33%.The firm had revenue of $8.73 million for the quarter, compared to analyst estimates of $9.78 million. As a group, research analysts forecast that Sky Harbour Group Co. will post -0.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Sky Harbour Group news, major shareholder Omaha Corp Boston sold 331,500 shares of Sky Harbour Group stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $9.05, for a total transaction of $3,000,075.00. Following the completion of the sale, the insider owned 8,666,163 shares of the company’s stock, valued at approximately $78,428,775.15. The trade was a 3.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 40.77% of the company’s stock.

Institutional Trading of Sky Harbour Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKYH. Bank of America Corp DE lifted its holdings in shares of Sky Harbour Group by 173.7% in the 2nd quarter. Bank of America Corp DE now owns 702,494 shares of the company’s stock valued at $6,863,000 after buying an additional 445,828 shares during the period. First Manhattan CO. LLC. purchased a new stake in Sky Harbour Group during the 4th quarter worth approximately $1,203,000. Geode Capital Management LLC increased its stake in Sky Harbour Group by 32.1% during the 2nd quarter. Geode Capital Management LLC now owns 465,415 shares of the company’s stock worth $4,548,000 after buying an additional 112,994 shares in the last quarter. Yorkville Advisors Global LP purchased a new stake in Sky Harbour Group during the 4th quarter worth approximately $448,000. Finally, Rhumbline Advisers increased its stake in Sky Harbour Group by 185.5% during the 2nd quarter. Rhumbline Advisers now owns 33,409 shares of the company’s stock worth $326,000 after buying an additional 21,708 shares in the last quarter. Institutional investors and hedge funds own 14.75% of the company’s stock.

Sky Harbour Group Company Profile

Sky Harbour Group Inc is a U.S.-based real estate development and operating company focused on private aviation infrastructure. The company specializes in the acquisition, design and management of fixed-base operations (FBOs), aircraft hangarage and private terminals that serve business and general aviation operators. By providing expedited ground handling, concierge services and state-of-the-art facilities, Sky Harbour seeks to streamline the operations of private jet owners, fractional-ownership programs and charter operators while reducing congestion at major airports.

Through strategic leases and joint-venture partnerships, Sky Harbour has established a growing presence at key regional and metropolitan airports across the United States.