Sky Harbour Group (NYSE:SKYH) Sees Large Volume Increase – Time to Buy?

Sky Harbour Group Co. (NYSE:SKYH) saw an uptick in trading volume on Friday . 103,649 shares were traded during trading, a decline of 19% from the previous session’s volume of 127,695 shares.The stock last traded at $8.7330 and had previously closed at $9.46.

Analysts Set New Price Targets

Several research firms have commented on SKYH. BTIG Research reiterated a “buy” rating and set a $13.00 price objective on shares of Sky Harbour Group in a research note on Tuesday, March 24th. Weiss Ratings began coverage on Sky Harbour Group in a research note on Monday, March 23rd. They set a “sell (d+)” rating for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sky Harbour Group has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Sky Harbour Group Stock Down 11.0%

The firm has a 50-day moving average price of $9.93 and a 200 day moving average price of $9.47. The firm has a market capitalization of $640.89 million, a PE ratio of 841.50 and a beta of 1.39.

Sky Harbour Group (NYSE:SKYH) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Sky Harbour Group had a return on equity of 8.03% and a net margin of 68.33%.The firm had revenue of $8.73 million for the quarter, compared to analysts’ expectations of $9.78 million. Equities research analysts expect that Sky Harbour Group Co. will post -0.66 earnings per share for the current year.

Insider Activity at Sky Harbour Group

In other news, major shareholder Omaha Corp Boston sold 331,500 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $9.05, for a total transaction of $3,000,075.00. Following the completion of the transaction, the insider directly owned 8,666,163 shares in the company, valued at $78,428,775.15. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 40.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of Sky Harbour Group by 145.6% in the third quarter. BNP Paribas Financial Markets now owns 5,012 shares of the company’s stock valued at $49,000 after acquiring an additional 2,971 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Sky Harbour Group in the fourth quarter valued at $83,000. Quadrant Capital Group LLC purchased a new position in Sky Harbour Group in the third quarter valued at $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Sky Harbour Group by 68.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company’s stock valued at $114,000 after buying an additional 4,721 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Sky Harbour Group by 9.9% in 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. 14.75% of the stock is currently owned by hedge funds and other institutional investors.

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.