Sky Harbour Group (NYSE:SKYH) Cut to Strong Sell at Wall Street Zen

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

A number of other research firms also recently commented on SKYH. Roth Capital restated a “buy” rating and set a $12.50 price objective on shares of Sky Harbour Group in a research note on Tuesday, August 18th. Weiss Ratings raised Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, September 3rd. Finally, Noble Financial upgraded Sky Harbour Group to a “strong-buy” rating in a report on Monday, May 18th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $12.75.

Sky Harbour Group Stock Up 1.4%

Shares of SKYH stock opened at $10.15 on Friday. Sky Harbour Group has a 12 month low of $8.22 and a 12 month high of $11.70. The company’s fifty day simple moving average is $10.46 and its 200-day simple moving average is $9.93. The firm has a market cap of $777.69 million, a PE ratio of -56.39 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH) last released its earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share for the quarter, beating 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 business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $9.44 million. On average, equities analysts predict that Sky Harbour Group will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sky Harbour Group news, Director Andrew Gessow purchased 5,000 shares of the stock in a transaction on Friday, August 14th. The shares were purchased 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 directly owned 22,910 shares in the company, valued at $248,573.50. This represents a 27.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders 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 Trading of Sky Harbour Group

A number of hedge funds have recently made changes to their positions in the business. Altai Capital Management L.P. bought a new position in shares of Sky Harbour Group during the 2nd quarter worth approximately $7,039,000. Bank of America Corp DE increased its holdings in shares of Sky Harbour Group by 1.8% during the 1st quarter. Bank of America Corp DE now owns 374,021 shares of the company’s stock worth $3,602,000 after acquiring an additional 6,545 shares during the last quarter. RMR Capital Management LLC bought a new stake in Sky Harbour Group in the 1st quarter valued at $1,170,000. Squarepoint Ops LLC raised its stake in 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 during the period. Finally, Yorkville Advisors Global LP lifted its holdings in Sky Harbour Group by 80.0% during the 1st quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company’s stock valued at $867,000 after purchasing an additional 40,000 shares during the last quarter. 14.75% of the stock is owned by institutional investors and hedge funds.

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.