Sky Harbour Group (NYSE:SKYH) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Sky Harbour Group Co. (NYSE:SKYH) saw unusually-strong trading volume on Tuesday . Approximately 187,137 shares were traded during mid-day trading, an increase of 29% from the previous session’s volume of 144,698 shares.The stock last traded at $11.4470 and had previously closed at $11.10.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SKYH. Noble Financial raised shares of Sky Harbour Group to a “strong-buy” rating in a report on Monday, May 18th. Roth Capital initiated coverage on shares of Sky Harbour Group in a report on Friday, July 31st. They issued a “buy” rating and a $14.00 price target for the company. Finally, Weiss Ratings upgraded shares of Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 6th. Two research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Sky Harbour Group Price Performance

The company has a fifty day moving average price of $10.05 and a 200 day moving average price of $9.70. The company has a market cap of $873.97 million, a PE ratio of 285.50 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH) last announced its earnings results on Wednesday, August 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $9.44 million. Sky Harbour Group had a net margin of 63.95% and a return on equity of 6.83%. As a group, sell-side analysts predict that Sky Harbour Group Co. will post -0.54 EPS for the current fiscal year.

Insider Activity

In related news, Director Andrew J. Gessow bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $8.95 per share, for a total transaction of $44,750.00. Following the completion of the transaction, the director owned 17,910 shares of the company’s stock, valued at approximately $160,294.50. The trade was a 38.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Sky Harbour Group

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Sky Harbour Group by 32.1% during the second quarter. Geode Capital Management LLC now owns 465,415 shares of the company’s stock valued at $4,548,000 after acquiring an additional 112,994 shares during the last quarter. Rhumbline Advisers grew its holdings 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 purchasing an additional 21,708 shares during the last quarter. American Century Companies Inc. raised its position in Sky Harbour Group by 64.9% in the 2nd quarter. American Century Companies Inc. now owns 34,123 shares of the company’s stock worth $333,000 after purchasing an additional 13,434 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 worth $114,000 after purchasing an additional 4,721 shares during the period. Finally, Bank of America Corp DE lifted its stake in Sky Harbour Group by 173.7% in the second quarter. Bank of America Corp DE now owns 702,494 shares of the company’s stock worth $6,863,000 after purchasing an additional 445,828 shares during the last quarter. Institutional investors own 14.75% of the company’s stock.

Sky Harbour Group Company Profile

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.