Air T, Inc. (NASDAQ: AIRT) Update on Short-Term Interest
Air T, Inc. (NASDAQ: AIRT) experienced a sharp decline in short-term interest during the month of November. As of November 30, there was short interest totaling 5,200 shares, a decrease of 26.8% from the total of 7,100 shares as of November 15. About 0.3% of the stock’s shares are sold short. Based on an average trading volume of 8,800 shares, the short-term interest rate is currently 0.6 days.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. Morgan Stanley increased its stake in Air T shares by 433.1% in the third quarter. Morgan Stanley now owns 19,950 shares of the transport company valued at $ 572,000 after purchasing an additional 16,208 shares in the last quarter. Geode Capital Management LLC increased its stake in Air T shares by 27.0% in the third quarter. Geode Capital Management LLC now owns 12,835 shares of the transportation company valued at $ 354,000 after purchasing an additional 2,729 shares in the last quarter. Millennium Management LLC purchased a new stake in Air T shares in the third quarter valued at $ 208,000. Finally, DCF Advisers LLC purchased a new stake in Air T shares in the second quarter valued at $ 214,000. Institutional investors hold 11.00% of the shares of the company.
Separately, TheStreet downgraded Air T from a “d” rating to a “c-” rating in a research report released on Friday, November 26.
NASDAQ: AIRT shares opened at $ 23.43 on Friday. Air T has a one-year low of $ 9.49 and a one-year high of $ 43.05. The stock has a fifty-day moving average of $ 27.69 and a 200-day moving average of $ 28.93. The company has a market cap of $ 67.53 million, a PE ratio of 15.94 and a beta of 1.44. The company has a debt ratio of 4.06, a rapid ratio of 1.64, and a current ratio of 5.36.
Knightscope, Inc., a developer of advanced physical security technologies focused on improving security operations in the United States, has begun offering up to $ 40 million in Class A common stock, with the shares to be listed immediately after the close of NASDAQ under the ticker symbol “KSCP.”
Air T (NASDAQ: AIRT) last announced its quarterly earnings data on Friday, November 12. The transportation company reported EPS of $ 2.60 for the quarter. Air T had a return on equity of 23.24% and a net margin of 2.37%. The company reported sales of $ 43.24 million in the quarter.
Air T Company Profile
Air T, Inc is a holding company that provides overnight air cargo services to the express delivery industry, manufactures and sells aircraft defrosters and other industrial equipment, and provides ground support equipment. and maintenance of airline facilities. It operates in the following segments: overnight air freight, sales of ground equipment, ground support services, printing and maintenance equipment, commercial aircraft engines and parts, printing and maintenance equipment and business and others.
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