Sky Harbour Group (NYSE:SKYH) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Sky Harbour Group (NYSE:SKYH) from a strong sell rating to a sell rating in a report released on Sunday morning,Wall Street Zen reports.

A number of other equities analysts also recently weighed in on SKYH. 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. BTIG Research reaffirmed a “buy” rating and set a $13.00 price target on shares of Sky Harbour Group in a research report on Monday, September 14th. Finally, Weiss Ratings upgraded Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.75.

Sky Harbour Group Price Performance

SKYH opened at $10.10 on Friday. The company’s 50-day moving average is $10.45 and its 200 day moving average is $9.96. Sky Harbour Group has a fifty-two week low of $8.22 and a fifty-two week high of $11.70. The firm has a market capitalization of $773.79 million, a P/E ratio of -56.11 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $9.44 million. Sky Harbour Group had a net margin of 2.73% and a return on equity of 6.45%. On average, equities research analysts expect that Sky Harbour Group will post -0.52 earnings per share for the current year.

Insider Transactions at Sky Harbour Group

In related news, Director Andrew Gessow acquired 5,000 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $10.85 per share, with a total value of $54,250.00. Following the completion of the transaction, the director owned 22,910 shares in the company, valued at approximately $248,573.50. The trade was a 27.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 7,000 shares of company stock worth $74,380 in the last three months. Company insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Sky Harbour Group

Large investors have recently modified their holdings of the stock. Altai Capital Management L.P. bought a new stake in Sky Harbour Group in the 2nd quarter valued at about $7,039,000. RMR Capital Management LLC purchased a new stake in Sky Harbour Group during the first quarter valued at about $1,170,000. Yorkville Advisors Global LP bought a new position in Sky Harbour Group during the fourth quarter worth about $448,000. Bank of New York Mellon Corp bought a new position in Sky Harbour Group during the second quarter worth about $472,000. Finally, Squarepoint Ops LLC boosted its position in Sky Harbour Group by 81.7% during the second quarter. Squarepoint Ops LLC now owns 100,888 shares of the company’s stock worth $993,000 after purchasing an additional 45,349 shares during the period. Hedge funds and other institutional investors own 14.75% of the company’s stock.

About Sky Harbour Group

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.