Sky Harbour Group (NYSE:SKYH) Stock Rating Reaffirmed as “Buy” by BTIG Research

Sky Harbour Group (NYSE:SKYH)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research report issued on Thursday, Benzinga reports. They presently have a $13.00 target price on the stock. BTIG Research‘s price target would suggest a potential upside of 43.01% from the company’s current price.

Several other brokerages also recently commented on SKYH. Wall Street Zen upgraded Sky Harbour Group from a “strong sell” rating to a “sell” rating in a research note on Sunday, September 20th. Weiss Ratings upgraded Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Finally, Roth Capital restated a “buy” rating and issued a $12.50 target price on shares of Sky Harbour Group in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $12.75.

Sky Harbour Group Trading Up 0.4%

Shares of SKYH stock traded up $0.04 on Thursday, hitting $9.09. 55,652 shares of the stock were exchanged, compared to its average volume of 155,688. The firm has a market capitalization of $696.48 million, a PE ratio of -50.50 and a beta of 1.35. Sky Harbour Group has a one year low of $8.22 and a one year high of $11.70. The firm’s 50 day moving average is $9.98 and its two-hundred day moving average is $9.98.

Sky Harbour Group (NYSE:SKYH) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate 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%. On average, sell-side analysts expect that Sky Harbour Group will post -0.52 earnings per share for the current year.

Insider Activity

In related news, Director Andrew Gessow bought 5,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $10.85 per share, for a total transaction of $54,250.00. Following the purchase, the director directly owned 22,910 shares in the company, valued at $248,573.50. This trade represents a 27.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Francisco Gonzalez bought 3,850 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was bought at an average price of $9.25 per share, with a total value of $35,612.50. Following the purchase, the chief financial officer owned 718,538 shares in the company, valued at $6,646,476.50. This trade represents a 0.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 13,950 shares of company stock valued at $139,568. 40.70% of the stock is owned by corporate insiders.

Institutional Trading of Sky Harbour Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Penbrook Management LLC raised its holdings in shares of Sky Harbour Group by 909.7% in the 3rd quarter. Penbrook Management LLC now owns 197,200 shares of the company’s stock valued at $1,867,000 after acquiring an additional 177,670 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Sky Harbour Group by 497.0% in the 3rd quarter. GAMMA Investing LLC now owns 3,379 shares of the company’s stock valued at $32,000 after acquiring an additional 2,813 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Sky Harbour Group by 81.7% in the 2nd quarter. Squarepoint Ops LLC now owns 100,888 shares of the company’s stock valued at $993,000 after acquiring an additional 45,349 shares in the last quarter. Altai Capital Management L.P. purchased a new stake in shares of Sky Harbour Group in the 2nd quarter valued at about $7,039,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sky Harbour Group in the 2nd quarter valued at about $472,000. Hedge funds and other institutional investors own 14.75% of the company’s stock.

About Sky Harbour Group

Sky Harbour Group Corporation develops, owns and operates private aviation hangar campuses at airports in the United States. The company focuses on providing purpose-built infrastructure for business aircraft owners and operators, with facilities designed to support the storage, maintenance and operation of private aircraft.

Its airport campuses generally include individual or multi-aircraft hangars, along with amenities such as pilot and crew lounges, office space, parking and other aviation-related services.