Investing in SkyWest Inc. (SKYW) Is Getting More Attractive


SkyWest Inc.’s recent filing unveils that its Director WELCH JAMES L acquired Company’s shares for reported $37900.0 on Feb 08. In the deal valued at $18.95 per share,2,000 shares were bought. As a result of this transaction, WELCH JAMES L now holds 55,435 shares worth roughly $ 1.1 million.

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Then, SIMMONS ROBERT J sold 7,783 shares, generating $191,996 in total proceeds. Upon selling the shares at $24.67, the CHIEF FINANCIAL OFFICER now owns 62,283 shares.

Before that, ATKIN JERRY C bought 55,000 shares. SkyWest Inc. shares valued at $1,393,150 were divested by the Director at a price of $25.33 per share. As a result of the transaction, ATKIN JERRY C now holds 270,903 shares, worth roughly $5.36 million.

PT values the company’s stock at a premium of -31.93 to its Friday closing price. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in early September from “a Mkt perform” to “an Underperform”. Raymond James also remained covering SKYW and has decreased its forecast on April 27, 2022 with a “Mkt perform” recommendation from previously “an Outperform” rating. Raymond James revised its rating on February 04, 2022. It rated SKYW as “an Outperform” which previously was an “a Strong buy”.

Price Performance Review of SKYW

On Friday, SkyWest Inc. [NASDAQ:SKYW] saw its stock fall -1.30% to $19.79. On the same session, the stock had its day’s lowest price of $19.20, but rose to a high of $20.05. Over the last five days, the stock has lost -2.08%. SkyWest Inc. shares have risen nearly 19.87% since the year began. Nevertheless, the stocks have fallen -28.94% over the past one year. While a 52-week high of $33.35 was reached on 02/02/23, a 52-week low of $14.76 was recorded on 01/03/23. SMA at 50 days reached $18.70, while 200 days put it at $20.27. A total of 0.57 million shares were traded, compared to the trading of 0.59 million shares in the previous session.

Levels Of Support And Resistance For SKYW Stock

The 24-hour chart illustrates a support level at 19.31, which if violated will result in even more drops to 18.83. On the upside, there is a resistance level at 20.16. A further resistance level may holdings at 20.53. The Relative Strength Index (RSI) on the 14-day chart is 51.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 38.70%. Stochastics %K at 64.44% indicates the stock is a holding.

How much short interest is there in SkyWest Inc.?

A steep rise in short interest was recorded in SkyWest Inc. stocks on Jan 12, 2023, dropping by 10000.0 shares to a total of 1.96 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 1.97 million shares. There was a decline of -0.51%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.47% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.24.

SkyWest Inc. [SKYW] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 7,863,691 shares, or roughly 15.54% of the outstanding SKYW shares. In other words, the investor’s shares have risen by 179,746 from its previous 13-F filing of 7683945.0. Additionally, The Vanguard Group, Inc. increased 4.14% of its stake after which the total value it holdings stand at $126,210,295, while US Global Investors, Inc. added 12.67% of its stake to hold $72.94 million in the firm. Over the last quarter, Dimensional Fund Advisors LP sold -53,909 shares of SkyWest Inc., while Kopernik Global Investors LLC sold 2,531,308 shares. At present, SSgA Funds Management, Inc. is holding 2,268,403 shares valued at $47.09 million. Federated MDTA LLC owned 1,234,822 shares of the company at the time of its most recent 13F filing, worth $25.63 million.

According to FactSet, SkyWest Inc.’s share price will average $20.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 7.23 percent from its previous closing price of $20.05. Analysts expect SkyWest Inc. stock to reach the higher price of $24.00, while the lowest price estimate is $14.00. However, 5 analysts have rated SKYW stock as an Underweight in their predictions for 2023.


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