Sky Harbour Group (NYSE:SKYH) Shares Gap Up – Should You Buy?

Sky Harbour Group Co. (NYSE:SKYH)’s share price gapped up prior to trading on Monday . The stock had previously closed at $9.88, but opened at $10.24. Sky Harbour Group shares last traded at $9.7550, with a volume of 19,550 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on SKYH shares. Weiss Ratings raised shares of Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 6th. Noble Financial raised Sky Harbour Group to a “strong-buy” rating in a research note on Monday, May 18th. Finally, BTIG Research reissued a “buy” rating and issued a $13.00 target price on shares of Sky Harbour Group in a research note on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Sky Harbour Group Stock Down 1.3%

The stock has a market capitalization of $746.17 million, a P/E ratio of 243.75 and a beta of 1.32. The company has a fifty day simple moving average of $9.51 and a two-hundred day simple moving average of $9.49.

Sky Harbour Group (NYSE:SKYH) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Sky Harbour Group had a return on equity of 6.83% and a net margin of 63.95%.The business had revenue of $8.72 million during the quarter, compared to the consensus estimate of $9.96 million. As a group, equities analysts forecast that Sky Harbour Group Co. will post -0.54 earnings per share for the current year.

Insider Buying and Selling at Sky Harbour Group

In related news, Director Andrew J. Gessow acquired 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $8.95 per share, with a total value of $44,750.00. Following the completion of the transaction, the director directly owned 17,910 shares of the company’s stock, valued at approximately $160,294.50. The trade was a 38.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 40.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sky Harbour Group

Several hedge funds have recently made changes to their positions in SKYH. BNP Paribas Financial Markets increased its position in shares of Sky Harbour Group by 145.6% in the third quarter. BNP Paribas Financial Markets now owns 5,012 shares of the company’s stock valued at $49,000 after acquiring an additional 2,971 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Sky Harbour Group during the fourth quarter valued at approximately $83,000. Quadrant Capital Group LLC bought a new position in Sky Harbour Group in the third quarter valued at approximately $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sky Harbour Group by 68.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company’s stock valued at $114,000 after purchasing an additional 4,721 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Sky Harbour Group by 9.9% during the 4th quarter. Deutsche Bank AG now owns 15,007 shares of the company’s stock worth $135,000 after purchasing an additional 1,357 shares during the last quarter. 14.75% of the stock is owned by institutional investors.

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.