Sky Harbour Group Co. (NYSE:SKYH) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Sky Harbour Group Co. (NYSE:SKYH) have received an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.50.

Several analysts have recently commented on SKYH shares. Noble Financial upgraded Sky Harbour Group to a “strong-buy” rating in a report on Monday, May 18th. Roth Capital started coverage on Sky Harbour Group in a research report on Friday, July 31st. They set a “buy” rating and a $14.00 target price on the stock. Finally, Weiss Ratings upgraded Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 6th.

Sky Harbour Group Stock Performance

Shares of Sky Harbour Group stock opened at $11.10 on Friday. The company has a market capitalization of $849.10 million, a PE ratio of 277.38 and a beta of 1.31. The company has a 50-day simple moving average of $9.90 and a two-hundred day simple moving average of $9.65. Sky Harbour Group has a one year low of $8.22 and a one year high of $11.17.

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

Insider Activity

In related news, Director Andrew J. Gessow acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $8.95 per share, with a total value of $44,750.00. Following the transaction, the director directly owned 17,910 shares of the company’s stock, valued at $160,294.50. This trade represents a 38.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 40.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SKYH. Geode Capital Management LLC raised its holdings in shares of Sky Harbour Group by 32.1% in the second 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 during the last quarter. Rhumbline Advisers grew its holdings in shares of Sky Harbour Group by 185.5% during the second quarter. Rhumbline Advisers now owns 33,409 shares of the company’s stock valued at $326,000 after buying an additional 21,708 shares during the last quarter. American Century Companies Inc. increased its position in shares of Sky Harbour Group by 64.9% in the 2nd quarter. American Century Companies Inc. now owns 34,123 shares of the company’s stock valued at $333,000 after acquiring an additional 13,434 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sky Harbour Group by 68.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company’s stock worth $114,000 after acquiring an additional 4,721 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Sky Harbour Group by 173.7% during the 2nd quarter. Bank of America Corp DE now owns 702,494 shares of the company’s stock worth $6,863,000 after acquiring an additional 445,828 shares during the period. 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.