Air T, Inc. (NASDAQ:AIRT) Sees Large Growth in Short Interest

Air T, Inc. (NASDAQ:AIRT) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 8,800 shares, a growth of 29.4% from the May 31st total of 6,800 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 17,000 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Air T in a research report on Monday, April 15th. They set a “hold” rating for the company.

Air T Price Performance

Shares of AIRT opened at $21.33 on Friday. The firm has a fifty day moving average price of $24.45 and a 200 day moving average price of $20.26. The stock has a market cap of $60.15 million, a PE ratio of -8.81 and a beta of 0.74. The company has a debt-to-equity ratio of 10.49, a current ratio of 1.99 and a quick ratio of 0.79. Air T has a 1-year low of $12.53 and a 1-year high of $27.68.

Air T (NASDAQ:AIRT) last issued its quarterly earnings results on Wednesday, June 26th. The transportation company reported ($0.60) earnings per share (EPS) for the quarter. Air T had a negative return on equity of 65.33% and a negative net margin of 2.38%. The firm had revenue of $72.68 million for the quarter.

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.