BTIG Research Reaffirms “Buy” Rating for Sky Harbour Group (NYSE:SKYH)

Sky Harbour Group (NYSE:SKYH)‘s stock had its “buy” rating reissued by BTIG Research in a research note issued to investors on Monday, Benzinga reports. They currently have a $13.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 29.35% from the stock’s current price.

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

Sky Harbour Group Stock Performance

NYSE SKYH opened at $10.05 on Monday. The stock has a market cap of $770.03 million, a PE ratio of -55.83 and a beta of 1.31. The firm has a 50-day moving average of $10.46 and a 200-day moving average of $9.92. Sky Harbour Group has a 52-week low of $8.22 and a 52-week high of $11.70.

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

Insider Activity at Sky Harbour Group

In other news, Director Andrew Gessow acquired 5,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $10.85 per share, for a total transaction of $54,250.00. Following the completion of the transaction, the director directly owned 22,910 shares in the company, valued at $248,573.50. This represents a 27.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Sky Harbour Group by 32.1% during the 2nd quarter. Geode Capital Management LLC now owns 465,415 shares of the company’s stock valued at $4,548,000 after purchasing an additional 112,994 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Sky Harbour Group by 185.5% during the 2nd quarter. Rhumbline Advisers now owns 33,409 shares of the company’s stock worth $326,000 after buying an additional 21,708 shares in the last quarter. American Century Companies Inc. grew its position in shares of Sky Harbour Group by 64.9% during the 2nd quarter. American Century Companies Inc. now owns 34,123 shares of the company’s stock worth $333,000 after buying an additional 13,434 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sky Harbour Group by 68.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company’s stock valued at $114,000 after acquiring an additional 4,721 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Sky Harbour Group by 173.7% during the 2nd quarter. Bank of America Corp DE now owns 702,494 shares of the company’s stock valued at $6,863,000 after acquiring an additional 445,828 shares during the period. 14.75% of the stock is owned by institutional investors.

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.