Air T, Inc. (NASDAQ:AIRT) Short Interest Down 21.2% in April

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

Air T Price Performance

Shares of Air T stock opened at $24.22 on Friday. The company has a current ratio of 1.99, a quick ratio of 0.79 and a debt-to-equity ratio of 10.49. Air T has a 52-week low of $12.53 and a 52-week high of $28.62. The stock has a 50-day simple moving average of $20.42 and a 200-day simple moving average of $19.09.

Air T (NASDAQ:AIRT) last announced its quarterly earnings results on Monday, February 12th. The transportation company reported ($1.06) earnings per share (EPS) for the quarter. The firm 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%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Air T in a research report on Monday, April 15th. 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.