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

Shares of Air T, Inc. (NASDAQ:AIRT) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.22 and traded as low as $15.51. Air T shares last traded at $15.51, with a volume of 17,591 shares trading hands.

Air T Stock Performance

The firm has a market cap of $42.81 million, a PE ratio of -6.60 and a beta of 0.72. The company has a current ratio of 2.15, a quick ratio of 0.92 and a debt-to-equity ratio of 19.44. The stock’s 50 day moving average price is $18.75 and its 200 day moving average price is $22.22.

Air T (NASDAQ:AIRT) last announced its quarterly earnings data on Wednesday, August 14th. The transportation company reported ($0.12) earnings per share for the quarter. The company had revenue of $66.41 million for the quarter. Air T had a negative return on equity of 88.61% and a negative net margin of 2.35%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC increased its holdings in Air T, Inc. (NASDAQ:AIRT) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 118,511 shares of the transportation company’s stock after buying an additional 1,600 shares during the period. Renaissance Technologies LLC owned about 4.29% of Air T worth $2,528,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 8.90% of the company’s stock.

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.