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

Air T, Inc. (NASDAQ:AIRT – Get Rating) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 4,100 shares, a growth of 95.2% from the April 30th total of 2,100 shares. Based on an average daily trading volume, of 10,200 shares, the short-interest ratio is presently 0.4 days. Currently, 0.3% of the shares of the stock are sold short.

A number of brokerages have weighed in on AIRT. StockNews.com began coverage on shares of Air T in a report on Friday. They issued a “sell” rating for the company. TheStreet lowered shares of Air T from a “c” rating to a “d+” rating in a research note on Wednesday, February 16th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. DCF Advisers LLC lifted its position 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 worth $273,000 after purchasing an additional 1,996 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Air T by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 13,498 shares of the transportation company’s stock worth $339,000 after purchasing an additional 663 shares in the last quarter. Millennium Management LLC acquired a new position in Air T in the third quarter worth approximately $208,000. Finally, Morgan Stanley increased its holdings in Air T by 433.1% in the third quarter. Morgan Stanley now owns 19,950 shares of the transportation company’s stock worth $572,000 after buying an additional 16,208 shares during the last quarter. 10.92% of the stock is owned by institutional investors and hedge funds.

NASDAQ AIRT opened at $16.20 on Friday. The company has a 50 day simple moving average of $18.30 and a 200-day simple moving average of $22.94. 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 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 52-week low of $14.35 and a 52-week high of $43.05.

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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