Sky Harbour Group (NYSE:SKYH) Upgraded to “Strong-Buy” at Roth Capital

Sky Harbour Group (NYSE:SKYH) was upgraded by analysts at Roth Capital to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Noble Financial upgraded shares of Sky Harbour Group to a “strong-buy” rating in a research report on Monday, May 18th. 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. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $13.50.

Sky Harbour Group Stock Performance

Sky Harbour Group stock opened at $10.69 on Friday. The company’s fifty day moving average price is $9.74 and its 200 day moving average price is $9.61. Sky Harbour Group has a 1 year low of $8.22 and a 1 year high of $11.17. The stock has a market capitalization of $818.11 million, a P/E ratio of 267.25 and a beta of 1.32.

Sky Harbour Group (NYSE:SKYH) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $8.72 million during the quarter, compared to analysts’ expectations of $9.96 million. Sky Harbour Group had a return on equity of 6.83% and a net margin of 63.95%. Sell-side analysts predict that Sky Harbour Group will post -0.54 EPS for the current year.

Insider Activity at Sky Harbour Group

In other news, Director Andrew J. Gessow purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased 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 $160,294.50. This trade represents a 38.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Sky Harbour Group by 32.1% during the 2nd quarter. Geode Capital Management LLC now owns 465,415 shares of the company’s stock worth $4,548,000 after purchasing an additional 112,994 shares during the last quarter. Rhumbline Advisers raised its position in shares of Sky Harbour Group by 185.5% in the second quarter. Rhumbline Advisers now owns 33,409 shares of the company’s stock valued at $326,000 after buying an additional 21,708 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Sky Harbour Group by 64.9% in the second quarter. American Century Companies Inc. now owns 34,123 shares of the company’s stock worth $333,000 after buying an additional 13,434 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Sky Harbour Group by 68.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company’s stock worth $114,000 after buying an additional 4,721 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Sky Harbour Group by 173.7% during the second quarter. Bank of America Corp DE now owns 702,494 shares of the company’s stock worth $6,863,000 after acquiring an additional 445,828 shares during the last quarter. Hedge funds and other 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.