Air T, Inc. (NASDAQ:AIRT) Sees Significant Growth in Short Interest

by · The Markets Daily

Air T, Inc. (NASDAQ:AIRT – Get Free Report) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 27,300 shares, an increase of 42.9% from the September 30th total of 19,100 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 31,700 shares, the short-interest ratio is presently 0.9 days.

Institutional Investors Weigh In On Air T

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC boosted its holdings in shares of Air T, Inc. (NASDAQ:AIRT – Free Report) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,511 shares of the transportation company’s stock after purchasing an additional 1,600 shares during the period. Renaissance Technologies LLC owned about 4.29% of Air T worth $2,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 8.90% of the company’s stock.

Air T Stock Down 0.3 %

AIRT traded down $0.05 during trading on Friday, hitting $17.15. The stock had a trading volume of 20,366 shares, compared to its average volume of 19,809. The company has a market capitalization of $47.33 million, a PE ratio of -7.09 and a beta of 0.72. Air T has a twelve month low of $12.53 and a twelve month high of $30.60. The company has a debt-to-equity ratio of 19.44, a quick ratio of 0.92 and a current ratio of 2.15. The stock has a 50 day simple moving average of $19.46 and a two-hundred day simple moving average of $22.50.

Air T (NASDAQ:AIRT – Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The transportation company reported ($0.12) EPS for the quarter. Air T had a negative return on equity of 88.61% and a negative net margin of 2.35%. The company had revenue of $66.41 million for the quarter.

About Air T

(Get Free Report)

Air T, Inc, through its subsidiaries, provides overnight air cargo, ground equipment sale, and commercial jet engines and parts in the United States and internationally. The Overnight Air Cargo segment offers air express delivery services. As of March 31, 2023, this segment had 85 aircraft under the dry-lease agreements with FedEx.

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