Short Interest in Air T, Inc. (NASDAQ:AIRT) Drops By 21.2%

Air T, Inc. (NASDAQ:AIRT) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 10,400 shares, a decline of 21.2% from the March 31st total of 13,200 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 9,300 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Air T in a research note on Monday, April 15th. They issued a “hold” rating for the company.

Air T Stock Down 7.3 %

AIRT stock opened at $24.22 on Friday. The stock has a market capitalization of $68.30 million, a PE ratio of -4.87 and a beta of 0.76. Air T has a 52 week low of $12.53 and a 52 week high of $28.62. The company has a quick ratio of 0.79, a current ratio of 1.99 and a debt-to-equity ratio of 10.49. The firm has a 50 day moving average of $20.42 and a 200 day moving average of $19.07.

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