Air T (NASDAQ:AIRT) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Shares of Air T, Inc. (NASDAQ:AIRTGet Free Report) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.09 and traded as low as $20.95. Air T shares last traded at $21.38, with a volume of 22,939 shares traded.

Air T Stock Down 1.7 %

The company has a debt-to-equity ratio of 13.44, a quick ratio of 1.14 and a current ratio of 2.27. The firm has a market capitalization of $59.01 million, a price-to-earnings ratio of -24.57 and a beta of 0.75. The firm has a fifty day moving average price of $18.04 and a 200 day moving average price of $21.09.

Institutional Investors Weigh In On Air T

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC increased its stake in Air T, Inc. (NASDAQ:AIRTFree Report) by 1.4% in the second quarter, according to 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 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

(Get Free Report)

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.

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