Sky Harbour Group (NYSE:SKYH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sky Harbour Group (NYSE:SKYH) from a strong sell rating to a sell rating in a report published on Sunday morning,Wall Street Zen reports.

Several other analysts have also commented on SKYH. Roth Capital reiterated a “buy” rating and set a $12.50 price objective on shares of Sky Harbour Group in a report on Tuesday, August 18th. BTIG Research restated a “buy” rating and set a $13.00 target price on shares of Sky Harbour Group in a research note on Monday, September 14th. Finally, Weiss Ratings raised 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 assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sky Harbour Group has an average rating of “Buy” and a consensus target price of $12.75.

Sky Harbour Group Stock Performance

NYSE:SKYH opened at $10.11 on Friday. The company’s 50-day simple moving average is $10.47 and its 200-day simple moving average is $9.97. Sky Harbour Group has a fifty-two week low of $8.22 and a fifty-two week high of $11.70. The stock has a market capitalization of $774.63 million, a P/E ratio of -56.17 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH) last posted its 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 company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $9.44 million. Sky Harbour Group had a net margin of 2.73% and a return on equity of 6.45%. On average, research analysts forecast that Sky Harbour Group will post -0.52 EPS for the current year.

Insider Activity at Sky Harbour Group

In related news, Director Andrew Gessow acquired 5,000 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $10.85 per share, for a total transaction of $54,250.00. Following the completion of the purchase, the director owned 22,910 shares of the company’s stock, valued at approximately $248,573.50. This represents a 27.92% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 7,000 shares of company stock worth $74,380 in the last three months. Insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On Sky Harbour Group

Hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC grew its stake in Sky Harbour Group by 81.7% during the 2nd quarter. Squarepoint Ops LLC now owns 100,888 shares of the company’s stock valued at $993,000 after purchasing an additional 45,349 shares during the last quarter. Altai Capital Management L.P. acquired a new stake in shares of Sky Harbour Group during the second quarter worth about $7,039,000. Bank of New York Mellon Corp acquired a new stake in shares of Sky Harbour Group during the second quarter worth about $472,000. RMR Capital Management LLC acquired a new stake in shares of Sky Harbour Group during the first quarter worth about $1,170,000. Finally, Bank of America Corp DE boosted its position in Sky Harbour Group by 1.8% in the first quarter. Bank of America Corp DE now owns 374,021 shares of the company’s stock valued at $3,602,000 after buying an additional 6,545 shares during the last quarter. 14.75% of the stock is owned by institutional investors and hedge funds.

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.