Sky Harbour Group (NYSE:SKYH) Rating Lowered to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Sky Harbour Group to “strong sell”, contrasting with an overall MarketBeat consensus rating of “Buy” and an average price target of $12.75.
• Shares opened at $10.05, down 2.1%, while the company reported a quarterly loss of $0.04 per share—better than estimates—but revenue of just $0.01 million fell far short of the $9.44 million consensus.
• Director Andrew Gessow bought 5,000 shares for $54,250, increasing his holdings by nearly 28%; insiders own 40.70% of the company, while institutional investors own 14.75%.

Sky Harbour Group (NYSE:SKYH - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings upgraded shares of Sky Harbour Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, September 3rd. Roth Capital reaffirmed a "buy" rating and issued a $12.50 price objective on shares of Sky Harbour Group in a research report on Tuesday, August 18th. Finally, Noble Financial upgraded shares of Sky Harbour Group to a "strong-buy" rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Sky Harbour Group currently has an average rating of "Buy" and a consensus price target of $12.75.

Sky Harbour Group Trading Down 2.1%

Shares of Sky Harbour Group stock opened at $10.05 on Friday. The business's fifty day simple moving average is $10.46 and its 200 day simple moving average is $9.91. Sky Harbour Group has a 12 month low of $8.22 and a 12 month high of $11.70. The firm has a market capitalization of $770.03 million, a P/E ratio of -55.83 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last announced 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 return on equity of 6.45% and a net margin of 2.73%.The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $9.44 million. Analysts predict that Sky Harbour Group will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling at Sky Harbour Group

In other news, Director Andrew Gessow purchased 5,000 shares of the business's stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $10.85 per share, for a total transaction of $54,250.00. Following the purchase, the director owned 22,910 shares of the company's stock, valued at $248,573.50. The trade was a 27.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 40.70% of the company's stock.

Institutional Investors Weigh In On Sky Harbour Group

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in shares of Sky Harbour Group by 145.6% in the third quarter. BNP Paribas Financial Markets now owns 5,012 shares of the company's stock worth $49,000 after purchasing an additional 2,971 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Sky Harbour Group during the 4th quarter valued at approximately $83,000. Quadrant Capital Group LLC purchased a new stake in shares of Sky Harbour Group during the 3rd quarter valued at approximately $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 buying an additional 4,721 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Sky Harbour Group by 9.9% in the 4th quarter. Deutsche Bank AG now owns 15,007 shares of the company's stock worth $135,000 after buying an additional 1,357 shares during the period. 14.75% of the stock is owned by hedge funds and other institutional investors.

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.

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