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 traded.

Analyst Upgrades and Downgrades

SKYH has been the topic of several analyst reports. Weiss Ratings raised 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 report on Monday, May 18th. Finally, BTIG Research reiterated a “buy” rating and issued a $13.00 price target on shares of Sky Harbour Group in a research note on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sky Harbour Group presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Sky Harbour Group Price Performance

The firm has a 50-day simple moving average of $9.48 and a 200-day simple moving average of $9.50. The firm has a market capitalization of $734.97 million, a PE ratio of 240.10 and a beta of 1.32.

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

Insider Activity

In other news, Director Andrew J. Gessow purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $8.95 per share, for a total transaction of $44,750.00. Following the acquisition, the director directly owned 17,910 shares of the company’s stock, valued at $160,294.50. This represents a 38.73% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Sky Harbour Group

Several hedge funds and other institutional investors have recently made changes to their positions in SKYH. BNP Paribas Financial Markets increased its stake in Sky Harbour Group by 145.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,012 shares of the company’s stock worth $49,000 after buying an additional 2,971 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Sky Harbour Group during the fourth quarter valued at approximately $83,000. Quadrant Capital Group LLC bought a new stake in shares of Sky Harbour Group during the third quarter valued at approximately $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 during the period. Finally, Deutsche Bank AG grew its stake in Sky Harbour Group by 9.9% in the fourth quarter. Deutsche Bank AG now owns 15,007 shares of the company’s stock worth $135,000 after purchasing an additional 1,357 shares in the last quarter. Hedge funds and other institutional investors 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.