Air T (NASDAQ:AIRT) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Air T, Inc. (NASDAQ:AIRT)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.45 and traded as high as $20.51. Air T shares last traded at $20.06, with a volume of 9,167 shares.

Air T Stock Down 0.5 %

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 simple moving average is $19.66 and its two-hundred day simple moving average is $20.45. The firm has a market cap of $55.37 million, a price-to-earnings ratio of -23.06 and a beta of 0.76.

Hedge Funds Weigh In On Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC raised its position in Air T, Inc. (NASDAQ:AIRT) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing 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 about 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.

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.