Short Interest in Air T, Inc. (NASDAQ:AIRT) Increases By 72.4%

Air T, Inc. (NASDAQ:AIRT) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totalling 13,100 shares, a growth of 72.4% from the June 30th total of 7,600 shares. Based on an average daily volume of 21,400 shares, the short-interest ratio is currently 0.6 days. Approximately 1.0% of the shares of the stock are short sold.

Air T Price Performance

NASDAQ:AIRT opened at $24.12 on Friday. The stock’s 50-day simple moving average is $24.31 and its 200 day simple moving average is $21.42. The company has a market cap of $66.57 million, a P/E ratio of -9.97 and a beta of 0.74. The company has a debt-to-equity ratio of 16.94, a quick ratio of 0.90 and a current ratio of 2.20. Air T has a 52-week low of $12.53 and a 52-week high of $30.60.

Air T (NASDAQ:AIRT) last announced its quarterly earnings data on Wednesday, June 26th. The transportation company reported ($0.60) EPS for the quarter. Air T had a negative net margin of 2.38% and a negative return on equity of 73.45%. The firm had revenue of $72.68 million for the quarter.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Air T in a research report on Monday, April 15th. They issued a “hold” rating on the stock.

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.