Air T, Inc. (NASDAQ:AIRT – Get a rating) saw a sharp increase in short-term interest in May. As of May 15, there was short interest totaling 4,100 shares, a 95.2% increase from the April 30 total of 2,100 shares. Based on an average daily trading volume of 10,200 shares, the day-to-cover ratio is currently 0.4 days. Approximately 0.3% of the company’s shares are sold short.

Several hedge funds and other institutional investors have been buying and selling stocks recently. Morgan Stanley increased its position in Air T by 433.1% in the third quarter. Morgan Stanley now owns 19,950 shares of the transportation company worth $572,000 after buying 16,208 more shares in the last quarter. Geode Capital Management LLC increased its holdings of 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 acquiring 2,729 additional shares last quarter. DCF Advisers LLC increased its holdings of Air T shares by 20.0% in the first quarter. DCF Advisers LLC now owns 12,000 shares of the transportation company valued at $273,000 after acquiring 1,996 additional shares last quarter. Finally, Millennium Management LLC purchased a new equity stake in Air T in the third quarter valued at approximately $208,000. 10.92% of the shares are currently held by hedge funds and other institutional investors.

NASDAQ-AIR opened at $16.20 on Friday. The company has a debt ratio of 4.95, a current ratio of 5.04 and a quick ratio of 1.43. The company’s fifty-day moving average price is $18.30 and its 200-day moving average price is $22.94. The company has a market capitalization of $46.61 million, a price/earnings ratio of 54.00 and a beta of 1.42. Air T has a 12 month minimum of $14.35 and a 12 month maximum of $43.05.

A number of equity research analysts have weighed in on the stock recently. TheStreet downgraded shares of Air T from a ‘c’ rating to a ‘d+’ rating in a Wednesday, February 16 report. StockNews.com supposed coverage of Air T shares in a research report on Friday. They issued a “sell” rating on the stock.

About Air T (Get a rating)

Air T, Inc, through its subsidiaries, provides overnight air cargo, ground equipment sales, commercial aircraft engines and parts, and printing equipment and maintenance services in the United States and around the world. The Company’s Overnight Air Cargo segment offers express air delivery services. As of March 31, 2021, this segment had 66 aircraft under bareboat lease agreements with FedEx.

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