Air T (NASDAQ:AIRT) Stock Crosses Below 200 Day Moving Average – What’s Next?

Shares of Air T, Inc. (NASDAQ:AIRT) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.58 and traded as low as $19.84. Air T shares last traded at $20.35, with a volume of 12,029 shares trading hands.

Air T Price Performance

The stock has a market capitalization of $56.17 million, a PE ratio of -23.39 and a beta of 0.76. The company has a current ratio of 2.27, a quick ratio of 1.14 and a debt-to-equity ratio of 13.44. The firm has a 50 day moving average price of $19.15 and a 200 day moving average price of $20.58.

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% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 118,511 shares of the transportation company’s stock after acquiring 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. Institutional investors 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.