StockNews.com Initiates Coverage on Air T (NASDAQ:AIRT)

Analysts at StockNews.com assumed coverage on shares of Air T (NASDAQ:AIRT) in a research note issued to investors on Monday. The firm set a “hold” rating on the transportation company’s stock.

Air T Trading Down 2.8 %

NASDAQ:AIRT opened at $23.78 on Monday. The company has a debt-to-equity ratio of 10.49, a quick ratio of 0.79 and a current ratio of 1.99. The firm’s fifty day moving average is $18.98 and its 200-day moving average is $18.96. Air T has a 52 week low of $12.53 and a 52 week high of $28.62. The firm has a market cap of $67.06 million, a P/E ratio of -4.78 and a beta of 0.76.

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

Institutional Trading of Air T

A number of large investors have recently added to or reduced their stakes in the stock. DCF Advisers LLC boosted its position in Air T by 20.0% during the first quarter. DCF Advisers LLC now owns 12,000 shares of the transportation company’s stock worth $273,000 after purchasing an additional 1,996 shares during the period. Vanguard Group Inc. boosted 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 worth $913,000 after purchasing an additional 2,300 shares during the period. Dimensional Fund Advisors LP boosted its position in Air T by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,569 shares of the transportation company’s stock worth $441,000 after purchasing an additional 752 shares during the period. Morgan Stanley boosted its position in Air T by 2.2% during the fourth quarter. Morgan Stanley now owns 22,750 shares of the transportation company’s stock worth $562,000 after purchasing an additional 500 shares during the period. Finally, UBS Group AG boosted its position in Air T by 11,365.0% during the fourth quarter. UBS Group AG now owns 14,102 shares of the transportation company’s stock worth $238,000 after purchasing an additional 13,979 shares during the period. Hedge funds and other institutional investors own 8.90% of the company’s stock.

Air T Company Profile

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.