Sky Harbour Group (NYSE:SKYH) Shares Gap Up – Here’s Why

Sky Harbour Group Co. (NYSE:SKYH) gapped up prior to trading on Tuesday . The stock had previously closed at $8.67, but opened at $9.31. Sky Harbour Group shares last traded at $9.1610, with a volume of 6,443 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SKYH. Weiss Ratings downgraded shares of Sky Harbour Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday. BTIG Research reiterated a “buy” rating and set a $13.00 target price on shares of Sky Harbour Group in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Sky Harbour Group Trading Down 5.0%

The stock’s 50-day moving average is $9.91 and its 200-day moving average is $9.45. The company has a market cap of $678.59 million, a price-to-earnings ratio of 222.73 and a beta of 1.39.

Sky Harbour Group (NYSE:SKYH) last released its earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) 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 company had revenue of $8.73 million for the quarter, compared to analyst estimates of $9.96 million. As a group, analysts predict that Sky Harbour Group Co. will post -0.66 EPS for the current year.

Insider Activity

In other Sky Harbour Group news, major shareholder Omaha Corp Boston sold 331,500 shares of the business’s stock in a transaction on Monday, April 6th. The shares were 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 in the company, valued at approximately $78,428,775.15. The trade was a 3.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 40.77% of the stock is owned by insiders.

Institutional Trading of Sky Harbour Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in Sky Harbour Group by 145.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,012 shares of the company’s stock valued at $49,000 after purchasing an additional 2,971 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Sky Harbour Group during the 4th quarter valued at $83,000. Quadrant Capital Group LLC bought a new stake in Sky Harbour Group during the 3rd quarter valued at $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Sky Harbour Group by 68.2% during the 2nd 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 stake in Sky Harbour Group by 9.9% during the 4th quarter. Deutsche Bank AG now owns 15,007 shares of the company’s stock valued at $135,000 after purchasing an additional 1,357 shares in the last quarter. 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.