Air T, Inc. (NASDAQ:AIRT) Short Interest Up 178.9% in March

Air T, Inc. (NASDAQ:AIRT) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 10,600 shares, an increase of 178.9% from the February 29th total of 3,800 shares. Based on an average trading volume of 6,500 shares, the short-interest ratio is currently 1.6 days. Currently, 0.8% of the shares of the company are short sold.

Institutional Investors Weigh In On Air T

A number of hedge funds and other institutional investors have recently modified their holdings of AIRT. UBS Group AG raised 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 purchasing an additional 13,979 shares in the last quarter. DCF Advisers LLC boosted its stake 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 buying an additional 1,996 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Air T by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,569 shares of the transportation company’s stock valued at $441,000 after buying an additional 752 shares during the period. Morgan Stanley grew 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 buying an additional 500 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Air T by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 53,347 shares of the transportation company’s stock worth $913,000 after acquiring an additional 2,300 shares during the period. Institutional investors and hedge funds own 8.90% of the company’s stock.

Air T Stock Performance

Shares of AIRT stock opened at $22.20 on Friday. The company has a market capitalization of $62.60 million, a price-to-earnings ratio of -4.47 and a beta of 0.73. The company has a debt-to-equity ratio of 10.49, a quick ratio of 0.79 and a current ratio of 1.99. Air T has a 52 week low of $12.53 and a 52 week high of $28.62. The company has a 50-day simple moving average of $17.69 and a 200 day simple moving average of $19.02.

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. The firm had revenue of $63.76 million for the quarter. Air T had a negative return on equity of 87.44% and a negative net margin of 4.91%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Air T in a research report on Friday, March 22nd. They set a “hold” rating for the company.

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.