Air T, Inc. (NASDAQ:AIRT) Short Interest Up 24.5% in March

Air T, Inc. (NASDAQ:AIRT) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 13,200 shares, an increase of 24.5% from the March 15th total of 10,600 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 7,900 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Investors Weigh In On Air T

Hedge funds and other institutional investors have recently made changes to their positions in the company. DCF Advisers LLC increased its stake in Air T by 20.0% in the 1st quarter. DCF Advisers LLC now owns 12,000 shares of the transportation company’s stock worth $273,000 after buying an additional 1,996 shares during the period. Vanguard Group Inc. increased its stake in Air T by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 53,347 shares of the transportation company’s stock worth $913,000 after buying an additional 2,300 shares during the period. Dimensional Fund Advisors LP increased its stake in Air T by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,569 shares of the transportation company’s stock worth $441,000 after buying an additional 752 shares during the period. Morgan Stanley increased its stake in Air T by 2.2% in the 4th quarter. Morgan Stanley now owns 22,750 shares of the transportation company’s stock worth $562,000 after buying an additional 500 shares during the period. Finally, UBS Group AG increased its stake in Air T by 11,365.0% in the 4th quarter. UBS Group AG now owns 14,102 shares of the transportation company’s stock worth $238,000 after buying an additional 13,979 shares during the period. Hedge funds and other institutional investors own 8.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Air T in a research note on Sunday, April 7th. They set a “hold” rating on the stock.

Air T Trading Down 2.8 %

Shares of AIRT opened at $23.78 on Friday. Air T has a twelve month low of $12.53 and a twelve month high of $28.62. The company has a market cap of $67.06 million, a P/E ratio of -4.78 and a beta of 0.76. The company has a current ratio of 1.99, a quick ratio of 0.79 and a debt-to-equity ratio of 10.49. The company’s fifty day simple moving average is $18.98 and its 200-day simple moving average is $18.98.

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

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.