Air Transport Services Group, Inc. (NASDAQ:ATSG) Sees Significant Growth in Short Interest

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,200,000 shares, an increase of 5.3% from the January 15th total of 2,090,000 shares. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is currently 1.8 days. Currently, 4.3% of the shares of the stock are sold short.

Air Transport Services Group Stock Performance

ATSG opened at $22.33 on Wednesday. The business’s 50-day moving average price is $22.08 and its two-hundred day moving average price is $19.09. Air Transport Services Group has a 1 year low of $11.62 and a 1 year high of $22.34. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -558.11 and a beta of 0.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68.

Institutional Trading of Air Transport Services Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Independence Bank of Kentucky acquired a new stake in shares of Air Transport Services Group in the 4th quarter valued at about $33,000. Sterling Capital Management LLC grew its holdings in Air Transport Services Group by 797.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company’s stock worth $36,000 after purchasing an additional 1,459 shares during the period. AlphaQuest LLC grew its holdings in Air Transport Services Group by 89.8% during the fourth quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock worth $58,000 after purchasing an additional 1,246 shares during the period. Covestor Ltd grew its holdings in Air Transport Services Group by 96.8% during the fourth quarter. Covestor Ltd now owns 3,729 shares of the transportation company’s stock worth $82,000 after purchasing an additional 1,834 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Air Transport Services Group during the fourth quarter worth approximately $99,000. Institutional investors and hedge funds own 91.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. StockNews.com assumed coverage on Air Transport Services Group in a research report on Monday. They set a “hold” rating on the stock. Loop Capital restated a “hold” rating and set a $22.50 price target (up from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Finally, Truist Financial increased their price target on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.60.

About Air Transport Services Group

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.