Sky Harbour Group (NYSE:SKYH) Upgraded to “Strong-Buy” at Roth Capital

Sky Harbour Group (NYSE:SKYH) was upgraded by stock analysts at Roth Capital to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Noble Financial upgraded shares of Sky Harbour Group to a “strong-buy” rating in a research report on Monday, May 18th. Weiss Ratings raised Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sky Harbour Group presently has a consensus rating of “Buy” and an average target price of $13.50.

Sky Harbour Group Trading Up 2.0%

SKYH opened at $10.69 on Friday. Sky Harbour Group has a 12-month low of $8.22 and a 12-month high of $11.17. The firm has a 50 day moving average of $9.74 and a two-hundred day moving average of $9.61. The firm has a market capitalization of $818.11 million, a PE ratio of 267.25 and a beta of 1.32.

Sky Harbour Group (NYSE:SKYH) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $8.72 million during the quarter, compared to analysts’ expectations of $9.96 million. Sky Harbour Group had a net margin of 63.95% and a return on equity of 6.83%. As a group, analysts predict that Sky Harbour Group will post -0.54 EPS for the current fiscal year.

Insider Activity

In other news, Director Andrew J. Gessow bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $8.95 per share, for a total transaction of $44,750.00. Following the purchase, the director directly owned 17,910 shares in the company, valued at approximately $160,294.50. This trade represents a 38.73% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 40.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Sky Harbour Group by 32.1% in the second quarter. Geode Capital Management LLC now owns 465,415 shares of the company’s stock worth $4,548,000 after acquiring an additional 112,994 shares during the period. Rhumbline Advisers grew its position in shares of Sky Harbour Group by 185.5% during the 2nd quarter. Rhumbline Advisers now owns 33,409 shares of the company’s stock valued at $326,000 after acquiring an additional 21,708 shares during the period. American Century Companies Inc. grew its position in shares of Sky Harbour Group by 64.9% during the 2nd quarter. American Century Companies Inc. now owns 34,123 shares of the company’s stock valued at $333,000 after acquiring an additional 13,434 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sky Harbour Group by 68.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company’s stock valued at $114,000 after purchasing an additional 4,721 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Sky Harbour Group by 173.7% in the 2nd quarter. Bank of America Corp DE now owns 702,494 shares of the company’s stock valued at $6,863,000 after purchasing an additional 445,828 shares in the last quarter. Hedge funds and other institutional investors 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.