Sky Harbour Group (NYSE:SKYH) Trading Up 2.8% – Still a Buy?

Sky Harbour Group Co. (NYSE:SKYH)’s share price rose 2.8% during mid-day trading on Thursday . The company traded as high as $10.40 and last traded at $10.3450. Approximately 244,903 shares changed hands during mid-day trading, an increase of 55% from the average daily volume of 157,917 shares. The stock had previously closed at $10.06.

Wall Street Analysts Forecast Growth

SKYH has been the subject of several analyst reports. BTIG Research reissued a “buy” rating and issued a $13.00 price target on shares of Sky Harbour Group in a report on Tuesday, March 24th. Weiss Ratings upgraded Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Noble Financial upgraded shares of Sky Harbour Group to a “strong-buy” rating in a research report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Sky Harbour Group Stock Down 4.2%

The company has a market capitalization of $759.18 million, a PE ratio of 248.00 and a beta of 1.32. The stock’s fifty day moving average price is $9.51 and its two-hundred day moving average price is $9.48.

Sky Harbour Group (NYSE:SKYH) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $8.72 million during the quarter, compared to analysts’ expectations of $9.96 million. Sky Harbour Group had a return on equity of 6.83% and a net margin of 63.95%. On average, equities research analysts forecast that Sky Harbour Group Co. will post -0.47 EPS for the current year.

Insider Transactions at Sky Harbour Group

In other news, Director Andrew J. Gessow acquired 5,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $8.95 per share, with a total value of $44,750.00. Following the completion of the transaction, the director owned 17,910 shares of the company’s stock, valued at $160,294.50. This represents a 38.73% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On Sky Harbour Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN grew its stake in shares of Sky Harbour Group by 65.4% in the 4th quarter. Wells Fargo & Company MN now owns 23,267 shares of the company’s stock worth $209,000 after buying an additional 9,199 shares during the last quarter. Deutsche Bank AG raised its stake in Sky Harbour Group by 9.9% during the fourth quarter. Deutsche Bank AG now owns 15,007 shares of the company’s stock valued at $135,000 after buying an additional 1,357 shares during the last quarter. Metis Global Partners LLC boosted its holdings in Sky Harbour Group by 28.8% in the fourth quarter. Metis Global Partners LLC now owns 24,958 shares of the company’s stock worth $224,000 after acquiring an additional 5,576 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Sky Harbour Group by 126.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 29,309 shares of the company’s stock worth $263,000 after acquiring an additional 16,387 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Sky Harbour Group by 28.6% in the 3rd quarter. Alliancebernstein L.P. now owns 17,080 shares of the company’s stock worth $169,000 after purchasing an additional 3,800 shares during 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.