Sky Harbour Group Co. (NYSE:SKYH) Stock Has Average Target Price of $12.75 According to Analysts

Sky Harbour Group Co. (NYSE:SKYH) has received a consensus recommendation of “Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $12.75.

A number of brokerages recently commented on SKYH. Wall Street Zen upgraded shares of Sky Harbour Group from a “strong sell” rating to a “sell” rating in a research report on Sunday, September 20th. Roth Capital reissued a “buy” rating and issued a $12.50 price target on shares of Sky Harbour Group in a research note on Tuesday, August 18th. BTIG Research restated 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 raised Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday.

Insider Activity

In related news, Director Andrew J. Gessow bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $10.85 per share, for a total transaction of $54,250.00. Following the acquisition, the director directly owned 22,910 shares of the company’s stock, valued at $248,573.50. The trade was a 27.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Francisco Gonzalez bought 3,850 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were bought at an average price of $9.25 per share, with a total value of $35,612.50. Following the completion of the acquisition, the chief financial officer directly 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 quarter, insiders bought 13,950 shares of company stock worth $139,568. Company insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On Sky Harbour Group

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of Sky Harbour Group by 497.0% during the third quarter. GAMMA Investing LLC now owns 3,379 shares of the company’s stock valued at $32,000 after purchasing an additional 2,813 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Sky Harbour Group in the second quarter worth approximately $472,000. Yorkville Advisors Global LP grew its holdings in shares of Sky Harbour Group by 80.0% in the first quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company’s stock worth $867,000 after purchasing an additional 40,000 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Sky Harbour Group by 81.7% in the second quarter. Squarepoint Ops LLC now owns 100,888 shares of the company’s stock worth $993,000 after buying an additional 45,349 shares during the period. Finally, RMR Capital Management LLC purchased a new position in shares of Sky Harbour Group in the first quarter worth $1,170,000. 14.75% of the stock is owned by hedge funds and other institutional investors.

Sky Harbour Group Price Performance

Shares of NYSE SKYH opened at $9.41 on Wednesday. The stock has a market capitalization of $721.15 million, a P/E ratio of -52.29 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 simple moving average is $10.28 and its two-hundred day simple moving average is $10.01.

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

Sky Harbour Group Company Profile

Sky Harbour Group Corporation develops and operates aviation infrastructure for business and general aviation. The company focuses on building and managing private hangar campuses designed to provide secure aircraft storage and related facilities for business aircraft owners and operators.

Its campuses typically offer dedicated aircraft hangars, office and support space, and other aviation-oriented amenities. Sky Harbour’s business model is centered on developing properties at strategically located airports and leasing or providing access to the facilities for private aviation customers.

The company is building a network of aviation campuses across the United States, with a focus on serving major metropolitan areas and regional business aviation markets.