Air T (NASDAQ:AIRT) Share Price Passes Below 200-Day Moving Average of $23.06

Shares of Air T, Inc. (NASDAQ:AIRT) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.06 and traded as low as $15.93. Air T shares last traded at $16.16, with a volume of 14,671 shares.

Air T Price Performance

The company has a debt-to-equity ratio of 19.44, a current ratio of 2.15 and a quick ratio of 0.92. The business has a 50 day moving average of $21.97 and a 200 day moving average of $23.06. The company has a market cap of $44.60 million, a PE ratio of -6.68 and a beta of 0.74.

Air T (NASDAQ:AIRT) last posted its earnings results 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 during the quarter.

Institutional Trading of Air T

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC increased its position in Air T, Inc. (NASDAQ:AIRT) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,511 shares of the transportation company’s stock after purchasing an additional 1,600 shares during the quarter. Renaissance Technologies LLC owned approximately 4.29% of Air T worth $2,528,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 8.90% of the company’s stock.

Air T Company Profile

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.