Air T (NASDAQ:AIRT) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Air T (NASDAQ:AIRT) in a report published on Monday morning. The brokerage issued a hold rating on the transportation company’s stock.

Air T Stock Performance

Air T stock opened at $22.68 on Monday. The firm’s fifty day moving average price is $19.08 and its 200-day moving average price is $18.95. 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 stock has a market cap of $63.96 million, a P/E ratio of -4.56 and a beta of 0.76. Air T has a fifty-two week low of $12.53 and a fifty-two week high of $28.62.

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

Hedge Funds Weigh In On Air T

A number of institutional investors have recently bought and sold shares of AIRT. Vanguard Group Inc. raised its holdings 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 acquiring an additional 2,300 shares during the period. Morgan Stanley grew its position in shares of Air T by 2.2% during the fourth quarter. Morgan Stanley now owns 22,750 shares of the transportation company’s stock valued at $562,000 after purchasing an additional 500 shares in the last quarter. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 752 shares in the last quarter. UBS Group AG grew its position in shares of Air T by 11,365.0% during the fourth quarter. UBS Group AG now owns 14,102 shares of the transportation company’s stock valued at $238,000 after purchasing an additional 13,979 shares in the last quarter. Finally, DCF Advisers LLC grew its position 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 purchasing an additional 1,996 shares in the last quarter. 8.90% of the stock is owned by institutional investors.

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.