Air T (NASDAQ:AIRT) Stock Crosses Below 200 Day Moving Average – What’s Next?

Air T, Inc. (NASDAQ:AIRT)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.58 and traded as low as $19.84. Air T shares last traded at $20.35, with a volume of 12,029 shares.

Air T Price Performance

The stock has a 50 day simple moving average of $19.15 and a 200-day simple moving average of $20.58. The firm has a market cap of $56.17 million, a PE ratio of -23.39 and a beta of 0.76. The company has a current ratio of 2.27, a quick ratio of 1.14 and a debt-to-equity ratio of 13.44.

Institutional Investors Weigh In On Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC increased its stake in shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 118,511 shares of the transportation company’s stock after acquiring an additional 1,600 shares during the quarter. Renaissance Technologies LLC owned about 4.29% of Air T worth $2,528,000 at the end of the most recent quarter. 8.90% of the stock is owned by institutional investors and hedge funds.

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.