Short Interest in Air T, Inc. (NASDAQ:AIRT) Drops By 21.2%

Air T, Inc. (NASDAQ:AIRT) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 10,400 shares, a drop of 21.2% from the March 31st total of 13,200 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily volume of 9,300 shares, the days-to-cover ratio is currently 1.1 days.

Air T Trading Down 7.3 %

NASDAQ AIRT opened at $24.22 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.99 and a debt-to-equity ratio of 10.49. The stock has a market capitalization of $68.30 million, a P/E ratio of -4.87 and a beta of 0.76. Air T has a 52-week low of $12.53 and a 52-week high of $28.62. The firm has a 50-day moving average price of $20.42 and a 200 day moving average price of $19.07.

Air T (NASDAQ:AIRT) last released its earnings results on Monday, February 12th. The transportation company reported ($1.06) earnings per share (EPS) for the quarter. The business had revenue of $63.76 million for the quarter. Air T had a negative return on equity of 87.44% and a negative net margin of 4.91%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Air T in a research note on Monday, April 15th. They issued a “hold” rating on the 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.