Sky Harbour Group (NYSEAMERICAN:SKYH) Shares Gap Down – Here’s Why

Sky Harbour Group Co. (NYSEAMERICAN:SKYH)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $12.33, but opened at $12.00. Sky Harbour Group shares last traded at $11.57, with a volume of 62,455 shares changing hands.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners initiated coverage on Sky Harbour Group in a research report on Friday, April 25th. They issued a “buy” rating and a $14.50 price objective on the stock. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.50.

Sky Harbour Group Price Performance

The firm has a market capitalization of $914.12 million, a PE ratio of -5.84 and a beta of 1.74. The stock has a 50-day moving average price of $11.50 and a 200-day moving average price of $11.45.

Institutional Trading of Sky Harbour Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Tocqueville Asset Management L.P. grew its stake in Sky Harbour Group by 145.4% in the first quarter. Tocqueville Asset Management L.P. now owns 118,900 shares of the company’s stock worth $1,547,000 after purchasing an additional 70,454 shares in the last quarter. American Century Companies Inc. acquired a new position in Sky Harbour Group in the first quarter worth about $269,000. Centerpoint Advisors LLC grew its stake in Sky Harbour Group by 50.2% in the first quarter. Centerpoint Advisors LLC now owns 175,000 shares of the company’s stock worth $2,277,000 after purchasing an additional 58,500 shares in the last quarter. Nuveen LLC acquired a new position in Sky Harbour Group in the first quarter worth about $198,000. Finally, Lawson Kroeker Investment Management Inc. NE grew its stake in Sky Harbour Group by 16.8% in the first quarter. Lawson Kroeker Investment Management Inc. NE now owns 437,849 shares of the company’s stock worth $5,696,000 after purchasing an additional 63,068 shares in the last quarter. 14.75% of the stock is owned by hedge funds and other institutional investors.

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.