Short-term stake in Air T, Inc. (NASDAQ:AIRT) drops 28.1%

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Air T, Inc. (NASDAQ:AIRTGet an assessment) benefited from a sharp fall in short-term interest rates during the month of July. As of July 31, there was short interest totaling 2,300 shares, down 28.1% from the July 15 total of 3,200 shares. About 0.2% of the stock’s shares are sold short. Based on an average daily trading volume of 6,800 shares, the short interest ratio is currently 0.3 days.

Hedge funds weigh on the air T

An institutional investor recently increased its position in Air T stock. DCF Advisers LLC added to its position in shares of Air T, Inc. (NASDAQ:AIRTGet an assessment) by 13.8% during the 2nd quarter, according to its last 13F filing with the Securities and Exchange Commission. The fund held 13,650 shares of the transportation company after buying an additional 1,650 shares during the period. DCF Advisers LLC owned approximately 0.48% of Air T worth $225,000 when it last filed with the SEC. Institutional investors and hedge funds own 10.92% of the company’s shares.

Wall Street analysts predict growth

A number of analysts have weighed in on AIRT shares recently. StockNews.com began covering Air T shares in a report on Sunday, August 7. They issued a “sell” rating on the stock. TheStreet upgraded Air T shares from a ‘d’ rating to a ‘c’ rating in a Tuesday, July 12 report.

Performance of Air T shares

Air T Stock opened at $15.13 on Friday. The company has a market capitalization of $43.36 million, a PE ratio of 4.01 and a beta of 1.26. Air T has a 12-month low of $14.01 and a 12-month high of $43.05. The company’s 50-day moving average price is $16.05 and its 200-day moving average price is $19.05. The company has a quick ratio of 1.72, a current ratio of 4.15 and a debt ratio of 5.03.

Air T (NASDAQ:AIRTGet an assessment) last released its quarterly results on Tuesday, June 28. The transportation company reported EPS of $1.51 for the quarter. The company had revenue of $51.44 million for the quarter. Air T had a net margin of 6.17% and a return on equity of 51.50%.

AirT Company Profile

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Air T, Inc, through its subsidiaries, provides overnight air cargo, ground equipment sales, commercial aircraft engines and parts, and printing equipment and maintenance services to United States and around the world. The Company’s Overnight Air Cargo segment offers express delivery services by air.

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