Sky Harbour Group’s (SKYH) “Buy” Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Sky Harbour Group (NYSE:SKYH) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $13.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Noble Financial upgraded shares of Sky Harbour Group to a “strong-buy” rating in a research report on Monday, May 18th. Roth Capital reiterated a “buy” rating and issued a $12.50 price objective on shares of Sky Harbour Group in a research report on Tuesday, August 18th. Weiss Ratings raised Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 3rd. Finally, Wall Street Zen downgraded Sky Harbour Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 12th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $12.75.

Sky Harbour Group Stock Down 0.3%

Shares of NYSE:SKYH opened at $9.96 on Monday. Sky Harbour Group has a 12 month low of $8.22 and a 12 month high of $11.70. The company’s 50-day moving average price is $10.45 and its two-hundred day moving average price is $9.94. The firm has a market cap of $763.14 million, a P/E ratio of -55.33 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH) last announced its earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. Sky Harbour Group had a net margin of 2.73% and a return on equity of 6.45%. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $9.44 million. As a group, equities analysts predict that Sky Harbour Group will post -0.52 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Andrew Gessow acquired 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 completion of the acquisition, the director directly owned 22,910 shares in the company, valued at approximately $248,573.50. The trade was a 27.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 7,000 shares of company stock worth $74,380 over the last ninety days. 40.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sky Harbour Group

A number of large investors have recently added to or reduced their stakes in the company. Altai Capital Management L.P. bought a new stake in shares of Sky Harbour Group in the second quarter valued at about $7,039,000. Bank of America Corp DE raised its position in Sky Harbour Group by 1.8% in the 1st quarter. Bank of America Corp DE now owns 374,021 shares of the company’s stock valued at $3,602,000 after buying an additional 6,545 shares during the last quarter. RMR Capital Management LLC acquired a new stake in Sky Harbour Group in the 1st quarter valued at approximately $1,170,000. Squarepoint Ops LLC lifted its stake in Sky Harbour Group by 81.7% in the 2nd quarter. Squarepoint Ops LLC now owns 100,888 shares of the company’s stock valued at $993,000 after acquiring an additional 45,349 shares in the last quarter. Finally, Yorkville Advisors Global LP lifted its stake in Sky Harbour Group by 80.0% in the 1st quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company’s stock valued at $867,000 after acquiring an additional 40,000 shares in the last quarter. Institutional investors own 14.75% of the company’s stock.

About Sky Harbour Group

Sky Harbour Group Corporation (NYSE: SKYH) develops, owns and operates aviation infrastructure for business and private aviation. The company focuses on purpose-built “Hangar Campuses” that provide aircraft owners and operators with secure, high-quality facilities for storing and managing private aircraft.

Its campuses are designed to offer more than aircraft storage, incorporating amenities such as private hangars, pilot and passenger facilities, office space, and other services intended to support business aviation activity.