Short Interest in Air T, Inc. (NASDAQ:AIRT) Drops By 54.8%

Air T, Inc. (NASDAQ:AIRTGet Rating) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 1,900 shares, a decrease of 54.8% from the March 15th total of 4,200 shares. Based on an average daily trading volume, of 15,900 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the company’s shares are sold short.

In related news, CEO Nicholas John Swenson purchased 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 14th. The stock was bought at an average cost of $24.72 per share, with a total value of $27,192.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders purchased 5,165 shares of company stock valued at $130,299. 62.95% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley increased its stake in shares of Air T by 433.1% during the third quarter. Morgan Stanley now owns 19,950 shares of the transportation company’s stock valued at $572,000 after purchasing an additional 16,208 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Air T by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 13,498 shares of the transportation company’s stock valued at $339,000 after acquiring an additional 663 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Air T during the third quarter valued at approximately $208,000. 11.94% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ AIRT opened at $18.41 on Friday. Air T has a fifty-two week low of $17.02 and a fifty-two week high of $43.05. The company has a 50 day simple moving average of $22.84 and a two-hundred day simple moving average of $25.33. The company has a market capitalization of $52.97 million, a price-to-earnings ratio of 61.37 and a beta of 1.32. The company has a debt-to-equity ratio of 4.95, a quick ratio of 1.43 and a current ratio of 5.04.

Air T (NASDAQ:AIRTGet Rating) last announced its earnings results on Monday, February 14th. The transportation company reported ($0.44) earnings per share for the quarter. Air T had a net margin of 0.56% and a return on equity of 5.24%. The business had revenue of $45.43 million for the quarter.

A number of research firms recently issued reports on AIRT. TheStreet downgraded shares of Air T from a “c” rating to a “d+” rating in a research note on Wednesday, February 16th. StockNews.com assumed coverage on shares of Air T in a research note on Thursday, March 31st. They set a “sell” rating for the company.

About Air T (Get Rating)

Air T, Inc is a holding company, which engages in the provision of overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other industrial equipment, and provides ground support equipment and facilities maintenance to airlines. It operates through the following segments: Overnight Air Cargo, Ground Equipment Sales, Ground Support Services, Printing Equipment & Maintenance, Commercial Aircrafts Engines & Parts, Printing Equipment & Maintenance and Corporate & Other.

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