Sky Harbour Group (NYSEAMERICAN:SKYH) Stock Price Down 3% – Here’s Why

Sky Harbour Group Co. (NYSEAMERICAN:SKYH)’s share price was down 3% during trading on Thursday . The stock traded as low as $12.41 and last traded at $12.55. Approximately 11,534 shares were traded during trading, a decline of 81% from the average daily volume of 61,353 shares. The stock had previously closed at $12.94.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Northland Capmk raised shares of Sky Harbour Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Maxim Group boosted their target price on Sky Harbour Group from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Northland Securities started coverage on Sky Harbour Group in a research report on Tuesday, September 24th. They set an “outperform” rating and a $16.00 price target on the stock.

Sky Harbour Group Stock Performance

The company has a market capitalization of $865.14 million, a PE ratio of -5.85 and a beta of 1.80.

Insiders Place Their Bets

In related news, Director Alexander Buffett Rozek purchased 152,486 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $9.50 per share, with a total value of $1,448,617.00. Following the purchase, the director now owns 323,613 shares of the company’s stock, valued at $3,074,323.50. This trade represents a 89.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 45.18% of the stock is currently owned by company insiders.

Institutional Trading of Sky Harbour Group

Large investors have recently added to or reduced their stakes in the company. Meixler Investment Management Ltd. lifted its position in shares of Sky Harbour Group by 82.5% in the third quarter. Meixler Investment Management Ltd. now owns 98,646 shares of the company’s stock worth $1,089,000 after purchasing an additional 44,596 shares in the last quarter. X Square Capital LLC acquired a new position in Sky Harbour Group in the 3rd quarter valued at approximately $331,000. Bank of New York Mellon Corp purchased a new stake in Sky Harbour Group in the 2nd quarter worth approximately $271,000. Barclays PLC boosted its stake in shares of Sky Harbour Group by 326.5% during the 3rd quarter. Barclays PLC now owns 16,315 shares of the company’s stock valued at $181,000 after buying an additional 12,490 shares during the period. Finally, Rhumbline Advisers purchased a new position in shares of Sky Harbour Group during the 2nd quarter valued at $103,000. 14.75% of the stock is owned by institutional investors and hedge funds.

Sky Harbour Group Company Profile

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.