Air T, Inc. (NASDAQ:AIRT) Short Interest Up 24.2% in October

Air T, Inc. (NASDAQ:AIRT) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 33,900 shares, an increase of 24.2% from the October 15th total of 27,300 shares. Currently, 2.5% of the company’s shares are short sold. Based on an average trading volume of 29,000 shares, the days-to-cover ratio is currently 1.2 days.

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 shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. 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 approximately 4.29% of Air T worth $2,528,000 at the end of the most recent quarter. 8.90% of the stock is owned by institutional investors.

Air T Stock Performance

Shares of AIRT stock opened at $17.37 on Friday. The firm has a market capitalization of $47.94 million, a price-to-earnings ratio of -20.03 and a beta of 0.72. The stock has a fifty day moving average of $17.70 and a 200 day moving average of $21.78. Air T has a 52 week low of $12.53 and a 52 week high of $30.60. The company has a quick ratio of 0.92, a current ratio of 2.27 and a debt-to-equity ratio of 13.44.

Air T (NASDAQ:AIRT) last posted its earnings results on Wednesday, August 14th. The transportation company reported ($0.12) EPS for the quarter. The company had revenue of $66.41 million during the quarter. Air T had a negative return on equity of 35.95% and a negative net margin of 0.88%.

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.