Sky Harbour Group (NYSE:SKYH) Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Sky Harbour Group from “strong sell” to “sell,” while other analysts remain more optimistic. The stock has a consensus “Buy” rating and an average price target of $12.75.
• Sky Harbour opened at $10.10, with a 52-week range of $8.22 to $11.70 and a market capitalization of approximately $773.8 million. Analysts expect the company to report a loss of $0.52 per share for the current year.
• The company beat quarterly EPS estimates, reporting a loss of $0.04 per share versus the expected $0.14 loss, though revenue was only $0.01 million compared with the $9.44 million consensus estimate. Insiders have recently purchased shares, and insiders own 40.70% of the company.

Sky Harbour Group (NYSE:SKYH - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings upgraded Sky Harbour Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, September 3rd. BTIG Research restated a "buy" rating and set a $13.00 price objective on shares of Sky Harbour Group in a research note on Monday, September 14th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $12.50 price objective on shares of Sky Harbour Group in a report on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Sky Harbour Group currently has a consensus rating of "Buy" and an average target price of $12.75.

Sky Harbour Group Stock Performance

SKYH opened at $10.10 on Friday. Sky Harbour Group has a 52 week low of $8.22 and a 52 week high of $11.70. The company has a fifty day moving average price of $10.45 and a two-hundred day moving average price of $9.96. The firm has a market capitalization of $773.79 million, a PE ratio of -56.11 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.04) earnings per share (EPS) 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 firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $9.44 million. Equities analysts forecast that Sky Harbour Group will post -0.52 EPS for the current year.

Insider Activity at Sky Harbour Group

In other news, Director Andrew Gessow bought 5,000 shares of the company's stock in a transaction dated 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 transaction, the director owned 22,910 shares of the company's stock, valued at $248,573.50. This represents a 27.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have purchased 7,000 shares of company stock valued at $74,380. 40.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Altai Capital Management L.P. bought a new stake in Sky Harbour Group during the second quarter worth $7,039,000. Bank of America Corp DE increased its stake in shares of Sky Harbour Group by 1.8% in 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. RMR Capital Management LLC bought a new position in shares of Sky Harbour Group in the 1st quarter valued at $1,170,000. Squarepoint Ops LLC raised its holdings in shares of Sky Harbour Group by 81.7% during the 2nd quarter. Squarepoint Ops LLC now owns 100,888 shares of the company's stock worth $993,000 after buying an additional 45,349 shares in the last quarter. Finally, Yorkville Advisors Global LP raised 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 worth $867,000 after buying an additional 40,000 shares in the last quarter. 14.75% of the stock is owned by institutional investors.

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.

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