Monday, August 24, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Upsized. Sky Harbour executed a third stock purchase agreement under its Registered Direct common stock placement. An additional one million shares were sold to M-Cor Capital at $10 per share, raising an additional $10 million on top of the original $40 million raised. We anticipate the additional capital to be used to support future hangar developments.
Portfolio I. Sky Harbour filed its monthly Construction Report for July 2026. The Company continued to make progress in June on its two remaining projects from the Obligated Group (PABs 2021 Series bond issue) – Opa Locka Phase 2 (OPF2) in Opa Locka, FL and Addison Phase 2 (ADS2) in Addison, TX. At OPF2, Alston Construction is substantially complete with construction. Temporary Certificates of Occupancy (TCO) have been issued for all hangars and the GSE. Tenants have started moving into the hangars, and the campus is in full operation. At ADS2 (Addison Airport), Ascend Aviation continues to work towards completion of the Earthwork and Utility scopes of work, with all site sanitary and water completed. The airside apron stabilization is completed, with 8 of 12 pours complete. All foundation piers have been completed on all hangars.
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