Short Interest in Air T, Inc. (NASDAQ:AIRT) Decreases By 16.2%

Air T, Inc. (NASDAQ:AIRT) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 28,400 shares, a decline of 16.2% from the October 31st total of 33,900 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 21,700 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On Air T

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC grew its position in Air T, Inc. (NASDAQ:AIRT) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,511 shares of the transportation company’s stock after buying an additional 1,600 shares during the quarter. Renaissance Technologies LLC owned 4.29% of Air T worth $2,528,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 8.90% of the company’s stock.

Air T Price Performance

Shares of NASDAQ:AIRT opened at $19.74 on Friday. The firm has a 50 day moving average of $17.26 and a 200-day moving average of $21.27. The stock has a market capitalization of $54.48 million, a PE ratio of -22.69 and a beta of 0.72. The company has a current ratio of 2.27, a quick ratio of 1.14 and a debt-to-equity ratio of 13.44. Air T has a 12 month low of $12.53 and a 12 month 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.