Sky Harbour Group (NYSEAMERICAN:SKYH) Stock Price Down 3% – Should You Sell?

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

Analyst Ratings Changes

Several brokerages have recently issued reports on SKYH. Northland Securities initiated coverage on Sky Harbour Group in a report on Tuesday, September 24th. They set an “outperform” rating and a $16.00 price target for the company. Maxim Group lifted their target price on shares of Sky Harbour Group from $17.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Northland Capmk upgraded shares of Sky Harbour Group to a “strong-buy” rating in a research note on Tuesday, September 24th.

Sky Harbour Group Stock Down 4.8 %

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 other Sky Harbour Group news, Director Alexander Buffett Rozek purchased 52,632 shares of the stock in a transaction dated Thursday, October 24th. The shares were bought at an average cost of $9.50 per share, with a total value of $500,004.00. Following the completion of the transaction, the director now owns 52,632 shares in the company, valued at $500,004. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 45.18% of the company’s stock.

Institutional Trading of Sky Harbour Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC bought a new stake in Sky Harbour Group in the 3rd quarter valued at $79,000. Apis Capital Advisors LLC acquired a new position in shares of Sky Harbour Group during the second quarter valued at about $92,000. Rhumbline Advisers bought a new stake in shares of Sky Harbour Group in the second quarter valued at about $103,000. Barclays PLC grew its position in Sky Harbour Group by 326.5% during the third quarter. Barclays PLC now owns 16,315 shares of the company’s stock worth $181,000 after buying an additional 12,490 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Sky Harbour Group during the second quarter valued at about $271,000. Institutional investors and hedge funds 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 is based in White Plains, New York.