Sky Harbour Group (NYSE:SKYH) Sees Unusually-High Trading Volume – Here’s What Happened

Sky Harbour Group Co. (NYSE:SKYH) saw strong trading volume on Tuesday . 187,137 shares were traded during trading, an increase of 29% from the previous session’s volume of 144,698 shares.The stock last traded at $11.4470 and had previously closed at $11.10.

Analyst Ratings Changes

Several research firms have recently issued reports on SKYH. Weiss Ratings upgraded shares of Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 6th. Noble Financial upgraded shares of Sky Harbour Group to a “strong-buy” rating in a report on Monday, May 18th. Finally, Roth Capital assumed coverage on shares of Sky Harbour Group in a research report on Friday, July 31st. They issued a “buy” rating and a $14.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sky Harbour Group currently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Sky Harbour Group Stock Up 0.6%

The firm has a market cap of $854.44 million, a P/E ratio of 279.25 and a beta of 1.31. The firm’s 50-day simple moving average is $9.97 and its 200 day simple moving average is $9.68.

Sky Harbour Group (NYSE:SKYH) last released its 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). The company had revenue of $8.72 million for the quarter, compared to the consensus estimate of $9.96 million. Sky Harbour Group had a net margin of 63.95% and a return on equity of 6.83%. As a group, analysts forecast that Sky Harbour Group Co. will post -0.54 earnings per share for the current year.

Insider Transactions at Sky Harbour Group

In other news, Director Andrew J. Gessow bought 5,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $8.95 per share, for a total transaction of $44,750.00. Following the completion of the purchase, the director directly owned 17,910 shares in the company, valued at $160,294.50. This represents a 38.73% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 40.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sky Harbour Group

Several large investors have recently added to or reduced their stakes in SKYH. Vanguard Group Inc. raised its stake in Sky Harbour Group by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,175,780 shares of the company’s stock valued at $11,605,000 after acquiring an additional 15,250 shares during the period. Bank of America Corp DE boosted its position in Sky Harbour Group by 173.7% during the second quarter. Bank of America Corp DE now owns 702,494 shares of the company’s stock worth $6,863,000 after purchasing an additional 445,828 shares during the period. State Street Corp increased its stake in shares of Sky Harbour Group by 2.5% in the fourth quarter. State Street Corp now owns 581,050 shares of the company’s stock worth $5,212,000 after purchasing an additional 14,035 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Sky Harbour Group by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 512,506 shares of the company’s stock worth $4,598,000 after purchasing an additional 14,194 shares in the last quarter. Finally, First Manhattan CO. LLC. bought a new stake in shares of Sky Harbour Group in the fourth quarter valued at approximately $1,203,000. Hedge funds and other institutional investors own 14.75% of the company’s stock.

About Sky Harbour Group

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.