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

Air T, Inc. (NASDAQ:AIRT) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 28,600 shares, a growth 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 company’s stock are sold short.

Hedge Funds Weigh In On Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC lifted its position in shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,511 shares of the transportation company’s stock after purchasing an additional 1,600 shares during the period. Renaissance Technologies LLC owned about 4.29% of Air T worth $2,528,000 as of its most recent SEC filing. 8.90% of the stock is owned by institutional investors and hedge funds.

Air T Trading Down 3.9 %

Shares of AIRT opened at $19.95 on Thursday. The company has a debt-to-equity ratio of 13.44, a current ratio of 2.27 and a quick ratio of 1.14. Air T has a 12 month low of $12.53 and a 12 month high of $30.60. The stock has a market cap of $55.06 million, a PE ratio of -22.93 and a beta of 0.75. The stock’s 50-day moving average is $18.97 and its two-hundred day moving average is $20.67.

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.