Short Interest in Air T, Inc. (NASDAQ:AIRT) Grows By 42.9%

Air T, Inc. (NASDAQ:AIRT) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 27,300 shares, a growth of 42.9% from the September 30th total of 19,100 shares. Based on an average daily volume of 31,700 shares, the short-interest ratio is currently 0.9 days. Approximately 2.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC raised its stake in Air T, Inc. (NASDAQ:AIRT) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 8.90% of the company’s stock.

Air T Trading Down 0.3 %

NASDAQ:AIRT opened at $17.15 on Monday. The firm has a 50-day simple moving average of $19.46 and a 200-day simple moving average of $22.50. Air T has a one year low of $12.53 and a one year high of $30.60. The firm has a market cap of $47.33 million, a P/E ratio of -7.09 and a beta of 0.72. The company has a debt-to-equity ratio of 19.44, a quick ratio of 0.92 and a current ratio of 2.15.

Air T (NASDAQ:AIRT) last issued 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%.

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.