Sky Harbour Group (NYSE:SKYH) Hits New 12-Month High – Should You Buy?

Sky Harbour Group Co. (NYSE:SKYH)’s share price reached a new 52-week high on Friday . The stock traded as high as $11.17 and last traded at $11.1750, with a volume of 8449 shares trading hands. The stock had previously closed at $11.07.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SKYH shares. Roth Capital assumed coverage on Sky Harbour Group in a research note on Friday, July 31st. They set a “buy” rating and a $14.00 price target on the stock. Noble Financial raised shares of Sky Harbour Group to a “strong-buy” rating in a research note on Monday, May 18th. Finally, Weiss Ratings upgraded shares of Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Sky Harbour Group Stock Up 1.2%

The business’s 50 day moving average is $9.93 and its 200 day moving average is $9.66. The company has a market cap of $857.14 million, a P/E ratio of 280.00 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH) last announced its earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Sky Harbour Group had a net margin of 63.95% and a return on equity of 6.83%. The company had revenue of $8.72 million for the quarter, compared to the consensus estimate of $9.96 million. As a group, equities research analysts forecast that Sky Harbour Group Co. will post -0.54 EPS for the current year.

Insiders Place Their Bets

In related news, Director Andrew J. Gessow acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $8.95 per share, with a total value of $44,750.00. Following the completion of the transaction, the director directly owned 17,910 shares in the company, valued at $160,294.50. This trade represents a 38.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 40.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sky Harbour Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in Sky Harbour Group in the second quarter valued at approximately $472,000. RMR Capital Management LLC acquired a new position in shares of Sky Harbour Group during the first quarter worth $1,170,000. Bank of America Corp DE lifted 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 valued at $3,602,000 after purchasing an additional 6,545 shares during the last quarter. Yorkville Advisors Global LP lifted its holdings in shares of 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. Finally, First Manhattan CO. LLC. acquired a new stake in shares of Sky Harbour Group in the 4th quarter worth $1,203,000. 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.