Sky Harbour Group (NYSEAMERICAN:SKYH) Stock Price Down 5.4% – What’s Next?

Sky Harbour Group Co. (NYSEAMERICAN:SKYH) shares traded down 5.4% during mid-day trading on Monday . The stock traded as low as $11.50 and last traded at $11.61. 51,565 shares changed hands during trading, a decline of 8% from the average session volume of 56,111 shares. The stock had previously closed at $12.27.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SKYH. Northland Capmk upgraded Sky Harbour Group to a “strong-buy” rating in a report on Tuesday, September 24th. Maxim Group boosted their price target on Sky Harbour Group from $17.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Northland Securities began coverage on Sky Harbour Group in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $16.00 price objective for the company.

Sky Harbour Group Stock Down 1.6 %

The company has a market cap of $746.71 million, a price-to-earnings ratio of -5.47 and a beta of 1.84.

Insider Buying and Selling

In other news, Director Alexander Buffett Rozek bought 52,632 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $9.50 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the director now owns 52,632 shares in the company, valued at approximately $500,004. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 45.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SKYH. MetLife Investment Management LLC purchased a new position in shares of Sky Harbour Group in the 3rd quarter valued at approximately $79,000. Apis Capital Advisors LLC acquired a new stake in shares of Sky Harbour Group during the second quarter worth $92,000. Rhumbline Advisers acquired a new position in Sky Harbour Group in the 2nd quarter valued at $103,000. Barclays PLC raised its position in Sky Harbour Group by 326.5% during the 3rd quarter. Barclays PLC now owns 16,315 shares of the company’s stock worth $181,000 after buying an additional 12,490 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Sky Harbour Group in the 2nd quarter worth $271,000. 14.75% of the stock is owned by institutional investors and hedge funds.

About Sky Harbour Group

Sky Harbour Group Corporation operates as an aviation infrastructure development company in the United States. It develops, leases, and manages general aviation hangars for business aircraft. The company is based in White Plains, New York.