Air T (NASDAQ:AIRT) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Air T, Inc. (NASDAQ:AIRT)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.90 and traded as low as $19.34. Air T shares last traded at $21.11, with a volume of 22,490 shares trading hands.

Air T Trading Up 9.3 %

The company has a fifty day moving average of $18.38 and a two-hundred day moving average of $20.90. The company has a quick ratio of 1.14, a current ratio of 2.27 and a debt-to-equity ratio of 13.44. The stock has a market capitalization of $58.26 million, a price-to-earnings ratio of -24.26 and a beta of 0.75.

Institutional Investors Weigh In On Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC lifted its stake 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 Securities and Exchange Commission (SEC). The firm owned 118,511 shares of the transportation company’s stock after acquiring an additional 1,600 shares during the period. Renaissance Technologies LLC owned 4.29% of Air T worth $2,528,000 as of its most recent SEC filing. 8.90% of the stock is currently owned by hedge funds and other institutional investors.

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.