Air T, Inc. (NASDAQ:AIRT) Short Interest Update

Air T, Inc. (NASDAQ:AIRT) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 19,100 shares, a growth of 20.9% from the September 15th total of 15,800 shares. Based on an average daily volume of 32,200 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.4% of the shares of the stock are sold short.

Air T Trading Up 2.9 %

Shares of AIRT stock opened at $17.30 on Tuesday. Air T has a fifty-two week low of $12.53 and a fifty-two week 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’s fifty day moving average is $20.45 and its two-hundred day moving average is $22.80. The firm has a market capitalization of $47.75 million, a P/E ratio of -7.15 and a beta of 0.72.

Air T (NASDAQ:AIRT) last posted its quarterly earnings results on Wednesday, August 14th. The transportation company reported ($0.12) earnings per share for the quarter. Air T had a negative return on equity of 88.61% and a negative net margin of 2.35%. The business had revenue of $66.41 million during the quarter.

Institutional Investors Weigh In On Air T

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

About Air T

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.