Short Interest in Air T, Inc. (NASDAQ:AIRT) Rises By 95.2%

Air T, Inc. (NASDAQ:AIRTGet Rating) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 4,100 shares, an increase of 95.2% from the April 30th total of 2,100 shares. Based on an average daily trading volume, of 10,200 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.3% of the company’s stock are sold short.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley grew its position in Air T by 433.1% during the 3rd quarter. Morgan Stanley now owns 19,950 shares of the transportation company’s stock worth $572,000 after purchasing an additional 16,208 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Air T by 27.0% in the third quarter. Geode Capital Management LLC now owns 12,835 shares of the transportation company’s stock valued at $354,000 after acquiring an additional 2,729 shares in the last quarter. DCF Advisers LLC boosted its holdings in shares of Air T by 20.0% in the first quarter. DCF Advisers LLC now owns 12,000 shares of the transportation company’s stock valued at $273,000 after acquiring an additional 1,996 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Air T in the third quarter valued at about $208,000. 10.92% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ AIRT opened at $16.20 on Friday. The company has a debt-to-equity ratio of 4.95, a current ratio of 5.04 and a quick ratio of 1.43. The firm’s fifty day moving average price is $18.30 and its 200 day moving average price is $22.94. The company has a market capitalization of $46.61 million, a price-to-earnings ratio of 54.00 and a beta of 1.42. Air T has a 12 month low of $14.35 and a 12 month high of $43.05.

A number of equities research analysts have recently weighed in on the stock. TheStreet lowered shares of Air T from a “c” rating to a “d+” rating in a report on Wednesday, February 16th. StockNews.com assumed coverage on shares of Air T in a research report on Friday. They issued a “sell” rating on the stock.

About Air T (Get Rating)

Air T, Inc, through its subsidiaries, provides overnight air cargo, ground equipment sale, commercial jet engines and parts, and printing equipment and maintenance services in the United States and internationally. The company's Overnight Air Cargo segment offers air express delivery services. As of March 31, 2021, this segment had 66 aircraft under the dry-lease agreements with FedEx.

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