Sky Harbour Group (NYSE:SKYH) Reaches New 12-Month High – What’s Next?

Sky Harbour Group Co. (NYSE:SKYH) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $11.17 and last traded at $11.1750, with a volume of 8449 shares changing hands. The stock had previously closed at $11.07.

Wall Street Analysts Forecast Growth

SKYH has been the topic of a number of research reports. Roth Capital initiated coverage on shares of Sky Harbour Group in a research note on Friday, July 31st. They issued a “buy” rating and a $14.00 price target on the stock. Noble Financial raised Sky Harbour Group to a “strong-buy” rating in a report on Monday, May 18th. Finally, Weiss Ratings upgraded Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sky Harbour Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Sky Harbour Group Price Performance

The business’s 50 day simple moving average is $9.90 and its 200 day simple moving average is $9.65. The company has a market capitalization of $862.88 million, a PE ratio of 282.25 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH) last posted its earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Sky Harbour Group had a net margin of 63.95% and a return on equity of 6.83%. The firm had revenue of $8.72 million during the quarter, compared to analyst estimates of $9.96 million. As a group, analysts anticipate that Sky Harbour Group Co. will post -0.54 EPS for the current year.

Insider Activity at Sky Harbour Group

In other Sky Harbour Group news, Director Andrew J. Gessow acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased 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 owned 17,910 shares of the company’s stock, 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 is available at this hyperlink. Insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Sky Harbour Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in Sky Harbour Group by 173.7% during the second quarter. Bank of America Corp DE now owns 702,494 shares of the company’s stock worth $6,863,000 after buying an additional 445,828 shares during the period. First Manhattan CO. LLC. acquired a new stake in shares of Sky Harbour Group during the fourth quarter valued at about $1,203,000. RMR Capital Management LLC purchased a new stake in shares of Sky Harbour Group in the 1st quarter valued at approximately $1,170,000. Geode Capital Management LLC raised its stake in shares of Sky Harbour Group by 32.1% in the 2nd quarter. Geode Capital Management LLC now owns 465,415 shares of the company’s stock valued at $4,548,000 after acquiring an additional 112,994 shares during the period. Finally, Yorkville Advisors Global LP acquired a new position in shares of Sky Harbour Group in the 4th quarter worth approximately $448,000. Institutional investors and hedge funds own 14.75% of the company’s stock.

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.