Air T (NASDAQ:AIRT) Shares Drop Below 200-Day Moving Average - What Lies Ahead?

Air T, Inc. (NASDAQ:AIRT) experienced a significant drop as its shares crossed below the 200-day moving average during trading on Tuesday. The stock's 200-day moving average stands at $20.58, with the shares trading as low as $19.84 during the day. More recently, Air T shares were trading at $20.35, with a total volume of 12,029 shares exchanged.

Air T Price Performance

The current market capitalization of Air T is reported at $56.17 million, alongside a price-to-earnings (PE) ratio of -23.39 and a beta of 0.76. The firm maintains a current ratio of 2.27 and a quick ratio of 1.14, with a notably high debt-to-equity ratio of 13.44. Additionally, the company has a 50-day moving average price of $19.15, compared to the 200-day moving average price of $20.58.

Institutional Investment Activity

In recent developments, a hedge fund has increased its stake in Air T stock. Renaissance Technologies LLC has raised its holdings in Air T, Inc. by 1.4% for the second quarter, according to their latest filing with the Securities and Exchange Commission. The firm now holds 118,511 shares of the transportation company after acquiring an additional 1,600 shares. As of the end of the most recent quarter, Renaissance Technologies LLC owned 4.29% of Air T, valued at approximately $2,528,000. Overall, institutional investors own about 8.90% of the company's stock.

Understanding Air T's Business Model

Air T, Inc. operates through its subsidiaries, providing overnight air cargo, ground equipment sales, and commercial jet engines and parts both domestically and internationally. The company’s Overnight Air Cargo segment is specifically focused on offering air express delivery services. As of March 31, 2023, this segment had 85 aircraft under dry-lease agreements with FedEx.

Investment Considerations

For investors considering whether to invest $1,000 in Air T, it’s essential to gather insights from the market. Recent analyses indicate that while Air T holds a "Hold" rating among analysts, five other stocks are being recommended as better investment opportunities at this time. Therefore, potential investors are encouraged to conduct thorough research before making any financial commitments.

This article has utilized data and information to summarize the current dynamics surrounding Air T's stock performance and investment outlook.

AirT, Stocks, Investment