Short Interest in Air T, Inc. (NASDAQ:AIRT) Decreases By 16.2%

Air T, Inc. (NASDAQ:AIRT) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 28,400 shares, a decline of 16.2% from the October 31st total of 33,900 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily volume of 21,700 shares, the days-to-cover ratio is currently 1.3 days.

Air T Trading Up 2.4 %

Shares of Air T stock opened at $19.74 on Friday. The firm has a market capitalization of $54.48 million, a PE ratio of -22.69 and a beta of 0.72. 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’s 50 day moving average is $17.26 and its 200 day moving average is $21.27. Air T has a 1 year low of $12.53 and a 1 year high of $30.60.

Institutional Investors Weigh In On Air T

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC boosted its holdings in shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter. Institutional investors and hedge funds own 8.90% of the company’s stock.

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.