Air T, Inc. (NASDAQ:AIRT) Sees Large Growth in Short Interest

Air T, Inc. (NASDAQ:AIRT – Get Rating) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 4,600 shares, a growth of 7.0% from the April 15th total of 4,300 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average trading volume of 3,000 shares, the short-interest ratio is presently 1.5 days.

Air T Stock Down 0.1 %

Air T stock opened at $26.57 on Tuesday. Air T has a 1-year low of $14.01 and a 1-year high of $28.95. The firm has a market capitalization of $74.93 million, a price-to-earnings ratio of 71.81 and a beta of 1.04. The company has a current ratio of 1.93, a quick ratio of 0.66 and a debt-to-equity ratio of 4.44. The firm’s fifty day moving average price is $23.48 and its two-hundred day moving average price is $23.43.

Air T (NASDAQ:AIRT – Get Rating) last announced its quarterly earnings data on Friday, February 10th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter. Air T had a net margin of 0.49% and a return on equity of 9.31%. The business had revenue of $61.40 million during the quarter.

Hedge Funds Weigh In On Air T

A number of large investors have recently made changes to their positions in AIRT. Vanguard Group Inc. lifted its position in Air T by 4.5% during the third quarter. Vanguard Group Inc. now owns 53,347 shares of the transportation company’s stock valued at $913,000 after purchasing an additional 2,300 shares during the last quarter. Morgan Stanley increased its position in shares of Air T by 2.2% in the fourth quarter. Morgan Stanley now owns 22,750 shares of the transportation company’s stock valued at $562,000 after acquiring an additional 500 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Air T by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,569 shares of the transportation company’s stock valued at $441,000 after acquiring an additional 752 shares during the last quarter. Finally, DCF Advisers LLC raised its stake in shares of Air T by 20.0% during 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 during the last quarter. 26.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Air T in a research report on Tuesday. They set a “hold” rating for the company.

About Air T

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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.