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

Air T, Inc. (NASDAQ:AIRT) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 33,900 shares, a growth of 24.2% from the October 15th total of 27,300 shares. Currently, 2.5% of the company’s shares are short sold. Based on an average trading volume of 29,000 shares, the short-interest ratio is presently 1.2 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC boosted its position in shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,511 shares of the transportation company’s stock after acquiring an additional 1,600 shares during the quarter. Renaissance Technologies LLC owned 4.29% of Air T worth $2,528,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 8.90% of the company’s stock.

Air T Price Performance

NASDAQ:AIRT opened at $18.90 on Friday. Air T has a 52 week low of $12.53 and a 52 week high of $30.60. The stock’s fifty day moving average is $17.77 and its two-hundred day moving average is $21.80. The company has a market capitalization of $52.16 million, a P/E ratio of -21.72 and a beta of 0.72. The company has a quick ratio of 0.92, a current ratio of 2.15 and a debt-to-equity ratio of 19.44.

Air T (NASDAQ:AIRT) last issued its quarterly earnings data on Wednesday, August 14th. The transportation company reported ($0.12) earnings per share (EPS) for the quarter. The company had revenue of $66.41 million during the quarter. Air T had a negative net margin of 0.88% and a negative return on equity of 39.50%.

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.