Sky Harbour Group (NYSEAMERICAN:SKYH) Shares Gap Up to $9.62

Sky Harbour Group Co. (NYSEAMERICAN:SKYH)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $9.62, but opened at $10.01. Sky Harbour Group shares last traded at $10.32, with a volume of 10,075 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, B. Riley started coverage on shares of Sky Harbour Group in a research report on Thursday, January 18th. They set a “buy” rating and a $15.00 target price for the company.

Sky Harbour Group Stock Performance

Sky Harbour Group (NYSEAMERICAN:SKYH) last issued its earnings results on Wednesday, March 27th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.53). Sky Harbour Group had a negative return on equity of 16.19% and a negative net margin of 213.57%. The business had revenue of $2.24 million for the quarter, compared to analysts’ expectations of $2.33 million. As a group, research analysts anticipate that Sky Harbour Group Co. will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKYH. Meixler Investment Management Ltd. increased its holdings in Sky Harbour Group by 88.1% in the third quarter. Meixler Investment Management Ltd. now owns 57,125 shares of the company’s stock valued at $256,000 after buying an additional 26,748 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Sky Harbour Group by 51.4% during the third quarter. Vanguard Group Inc. now owns 15,192 shares of the company’s stock worth $68,000 after purchasing an additional 5,155 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Sky Harbour Group during the fourth quarter worth about $126,000. Finally, Northern Trust Corp purchased a new stake in shares of Sky Harbour Group during the fourth quarter worth about $148,000. Hedge funds and other institutional investors own 14.75% of the company’s stock.

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 was incorporated in 2017 and is based in White Plains, New York.