Air T (NASDAQ:AIRT) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Air T, Inc. (NASDAQ:AIRT)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Air T Price Performance

The company has a 50-day moving average of $18.09 and a 200-day moving average of $21.05. 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 $57.30 million, a price-to-earnings ratio of -23.86 and a beta of 0.75.

Institutional Investors Weigh In On Air T

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC boosted its stake in Air T, Inc. (NASDAQ:AIRT) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,511 shares of the transportation company’s stock after acquiring an additional 1,600 shares during the quarter. Renaissance Technologies LLC owned 4.29% of Air T worth $2,528,000 as of its most recent SEC filing. Hedge funds and other 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.