Sky Harbour Group (NYSE:SKYH) Raised to Sell at Wall Street Zen

Sky Harbour Group (NYSE:SKYH) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Sunday, Wall Street Zen reports.

A number of other equities analysts also recently issued reports on SKYH. Weiss Ratings upgraded shares of Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 3rd. Roth Capital restated a “buy” rating and set a $12.50 target price on shares of Sky Harbour Group in a research report on Tuesday, August 18th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $13.00 target price on shares of Sky Harbour Group in a report on Monday, September 14th. 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 stock. According to data from MarketBeat.com, Sky Harbour Group presently has a consensus rating of “Buy” and an average target price of $12.75.

Sky Harbour Group Price Performance

Shares of SKYH stock opened at $10.08 on Friday. The business’s fifty day moving average price is $10.46 and its 200 day moving average price is $9.97. Sky Harbour Group has a 1-year low of $8.22 and a 1-year high of $11.70. The firm has a market capitalization of $772.33 million, a PE ratio of -56.00 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH) last released 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 the consensus estimate of $9.44 million. Sky Harbour Group had a return on equity of 6.45% and a net margin of 2.73%. Equities research analysts expect that Sky Harbour Group will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sky Harbour Group news, Director Andrew Gessow bought 5,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was purchased at an average cost of $10.85 per share, for a total transaction of $54,250.00. Following the acquisition, the director owned 22,910 shares of the company’s stock, valued at $248,573.50. The trade was a 27.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have bought 7,000 shares of company stock valued at $74,380. 40.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Sky Harbour Group

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in shares of Sky Harbour Group during the 2nd quarter worth approximately $472,000. Yorkville Advisors Global LP acquired a new stake in Sky Harbour Group during the 4th quarter valued at $448,000. Squarepoint Ops LLC grew its holdings 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 buying an additional 45,349 shares during the last quarter. RMR Capital Management LLC purchased a new position in Sky Harbour Group during the first quarter worth $1,170,000. Finally, Bank of America Corp DE increased its position in Sky Harbour Group by 1.8% during the first quarter. Bank of America Corp DE now owns 374,021 shares of the company’s stock worth $3,602,000 after buying an additional 6,545 shares in the last quarter. 14.75% of the stock is currently owned by institutional investors and hedge funds.

Sky Harbour Group Company Profile

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.