Air T, Inc. (NASDAQ:AIRT) Short Interest Up 10.0% in December

Air T, Inc. (NASDAQ:AIRT) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 28,600 shares, an increase of 10.0% from the November 30th total of 26,000 shares. Based on an average daily trading volume, of 19,900 shares, the short-interest ratio is currently 1.4 days. Approximately 2.1% of the company’s shares are sold short.

Institutional Trading of Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC grew its holdings in shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,511 shares of the transportation company’s stock after buying 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. 8.90% of the stock is currently owned by institutional investors and hedge funds.

Air T Price Performance

Shares of Air T stock opened at $19.95 on Thursday. The stock has a market capitalization of $55.06 million, a P/E ratio of -22.93 and a beta of 0.75. 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 business’s fifty day moving average price is $18.97 and its 200 day moving average price is $20.67. Air T has a twelve month low of $12.53 and a twelve month high of $30.60.

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.