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

Air T, Inc. (NASDAQ:AIRT) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 28,400 shares, a decline of 16.2% from the October 31st total of 33,900 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 21,700 shares, the short-interest ratio is currently 1.3 days.

Air T Stock Up 2.4 %

NASDAQ:AIRT opened at $19.74 on Monday. The company has a debt-to-equity ratio of 13.44, a current ratio of 2.27 and a quick ratio of 1.14. The firm’s 50-day moving average price is $17.26 and its 200-day moving average price is $21.23. The company has a market capitalization of $54.48 million, a PE ratio of -22.69 and a beta of 0.72. Air T has a 1-year low of $12.53 and a 1-year high of $30.60.

Institutional Investors Weigh In On Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC lifted its stake in Air T, Inc. (NASDAQ:AIRT) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & 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 about 4.29% of Air T worth $2,528,000 as of its most recent filing with the Securities & Exchange Commission. 8.90% of the stock is owned by institutional investors and hedge funds.

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.