Air T (NASDAQ:AIRT) Shares Cross Below 200 Day Moving Average – Should You Sell?

Air T, Inc. (NASDAQ:AIRT)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.58 and traded as low as $19.84. Air T shares last traded at $20.35, with a volume of 12,029 shares changing hands.

Air T Price Performance

The company has a market cap of $54.40 million, a PE ratio of -22.66 and a beta of 0.76. The stock has a fifty day moving average price of $19.27 and a 200-day moving average price of $20.55. The company has a debt-to-equity ratio of 13.44, a current ratio of 2.27 and a quick ratio of 1.14.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC lifted its holdings in Air T, Inc. (NASDAQ:AIRT) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,511 shares of the transportation company’s stock after purchasing an additional 1,600 shares during the period. Renaissance Technologies LLC owned 4.29% of Air T worth $2,528,000 at the end of the most recent reporting period. Institutional investors 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.