Sky Harbour Group (NYSE:SKYH) Shares Up 2.8% – Here’s What Happened

Sky Harbour Group Co. (NYSE:SKYH) shares rose 2.8% on Thursday . The stock traded as high as $10.40 and last traded at $10.3450. 244,903 shares were traded 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 Analyst Weigh In

Several equities analysts have recently issued reports on the stock. 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. Noble Financial raised Sky Harbour Group to a “strong-buy” rating in a research note on Monday, May 18th. Finally, Weiss Ratings raised Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Sky Harbour Group Trading Up 2.8%

The business has a 50 day moving average of $9.52 and a 200-day moving average of $9.48. The firm has a market capitalization of $791.70 million, a P/E ratio of 258.62 and a beta of 1.32.

Sky Harbour Group (NYSE:SKYH) last announced its earnings results on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Sky Harbour Group had a return on equity of 6.83% and a net margin of 63.95%.The company had revenue of $8.72 million for the quarter, compared to analyst estimates of $9.96 million. On average, analysts anticipate that Sky Harbour Group Co. will post -0.5 EPS for the current fiscal year.

Insider Activity at Sky Harbour Group

In related news, Director Andrew J. Gessow acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $8.95 per share, for a total transaction of $44,750.00. Following the completion of the acquisition, the director directly owned 17,910 shares in the company, valued at approximately $160,294.50. The trade was a 38.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 40.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sky Harbour Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings 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 worth $49,000 after purchasing an additional 2,971 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Sky Harbour Group in the fourth quarter valued at about $83,000. Quadrant Capital Group LLC bought a new stake in shares of Sky Harbour Group in the third quarter valued at about $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Sky Harbour Group by 68.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company’s stock worth $114,000 after buying an additional 4,721 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Sky Harbour Group by 9.9% during the fourth quarter. Deutsche Bank AG now owns 15,007 shares of the company’s stock worth $135,000 after buying an additional 1,357 shares during the period. 14.75% of the stock is owned by institutional investors and hedge funds.

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.