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

Air T, Inc. (NASDAQ:AIRT) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 28,600 shares, a growth of 10.0% from the November 30th total of 26,000 shares. Currently, 2.1% of the company’s shares are sold short. Based on an average daily volume of 19,900 shares, the short-interest ratio is presently 1.4 days.

Air T Stock Performance

NASDAQ:AIRT opened at $20.75 on Tuesday. Air T has a 1-year low of $12.53 and a 1-year high of $30.60. The firm has a 50 day simple moving average of $18.83 and a 200-day simple moving average of $20.69. The firm has a market cap of $57.27 million, a PE ratio of -23.85 and a beta of 0.75. The company has a debt-to-equity ratio of 13.44, a current ratio of 2.27 and a quick ratio of 1.14.

Institutional Investors Weigh In On Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC raised its holdings in Air T, Inc. (NASDAQ:AIRT) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,511 shares of the transportation company’s stock after buying an additional 1,600 shares during the quarter. Renaissance Technologies LLC owned approximately 4.29% of Air T worth $2,528,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.