Air T, Inc. (NASDAQ:AIRT) Short Interest Up 10.0% in December

Air T, Inc. (NASDAQ:AIRT) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 28,600 shares, an increase of 10.0% from the November 30th total of 26,000 shares. Based on an average daily volume of 19,900 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC increased its stake in Air T, Inc. (NASDAQ:AIRT) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,511 shares of the transportation company’s stock after purchasing an additional 1,600 shares during the quarter. Renaissance Technologies LLC owned 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 and hedge funds.

Air T Stock Up 1.7 %

Shares of Air T stock opened at $20.75 on Tuesday. The company has a market cap of $57.27 million, a P/E ratio of -23.85 and a beta of 0.75. The firm has a fifty day moving average of $18.83 and a two-hundred day moving average of $20.69. The company has a debt-to-equity ratio of 13.44, a quick ratio of 1.14 and a current ratio of 2.27. Air T has a one year low of $12.53 and a one year high of $30.60.

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.