Air T (NASDAQ:AIRT) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Air T, Inc. (NASDAQ:AIRT) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.09 and traded as low as $20.95. Air T shares last traded at $21.38, with a volume of 22,939 shares.

Air T Price Performance

The firm has a market capitalization of $57.30 million, a price-to-earnings ratio of -23.86 and a beta of 0.75. 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 company’s fifty day moving average is $18.09 and its two-hundred day moving average is $21.05.

Institutional Inflows and Outflows

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

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.