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

Air T logo with Transportation background

Air T, Inc. (NASDAQ:AIRT - Get Free Report) was the target of 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 shares of the company are sold short. Based on an average daily volume of 29,000 shares, the short-interest ratio is currently 1.2 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC raised its stake in shares of Air T, Inc. (NASDAQ:AIRT - Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent Form 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 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.

Air T Stock Performance

NASDAQ AIRT traded down $1.53 during trading hours on Friday, reaching $17.37. The stock had a trading volume of 8,660 shares, compared to its average volume of 19,692. The stock has a fifty day moving average of $17.70 and a 200 day moving average of $21.78. Air T has a 52-week low of $12.53 and a 52-week high of $30.60. The stock has a market cap of $47.94 million, a P/E ratio of -20.03 and a beta of 0.72. The company has a debt-to-equity ratio of 13.44, a quick ratio of 0.92 and a current ratio of 2.27.

Air T (NASDAQ:AIRT - Get Free Report) last posted its earnings results on Wednesday, August 14th. The transportation company reported ($0.12) earnings per share (EPS) for the quarter. Air T had a negative return on equity of 35.95% and a negative net margin of 0.88%. The firm had revenue of $66.41 million for the quarter.

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.

Further Reading

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