Air T (NASDAQ:AIRT) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Air T, Inc. (NASDAQ:AIRT) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.64 and traded as low as $15.80. Air T shares last traded at $17.67, with a volume of 31,154 shares traded.

Air T Stock Performance

The firm has a fifty day moving average of $19.89 and a 200-day moving average of $22.64. The company has a quick ratio of 0.92, a current ratio of 2.15 and a debt-to-equity ratio of 19.44. The stock has a market capitalization of $48.77 million, a price-to-earnings ratio of -7.30 and a beta of 0.72.

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

Hedge Funds 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 13F filing with the Securities and Exchange Commission. The institutional investor 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 and 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.