Air T (NASDAQ:AIRT) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Air T, Inc. (NASDAQ:AIRT) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.58 and traded as low as $19.84. Air T shares last traded at $20.35, with a volume of 12,029 shares.

Air T Stock Down 3.1 %

The company has a current ratio of 2.27, a quick ratio of 1.14 and a debt-to-equity ratio of 13.44. The stock has a 50-day moving average of $19.27 and a 200-day moving average of $20.55. The firm has a market cap of $54.40 million, a price-to-earnings ratio of -22.66 and a beta of 0.76.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC raised its holdings in shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,511 shares of the transportation company’s stock after buying an additional 1,600 shares during the period. Renaissance Technologies LLC owned about 4.29% of Air T worth $2,528,000 as of its most recent SEC filing. 8.90% of the stock is currently owned by institutional investors and hedge funds.

About Air T

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.