Air T (NASDAQ:AIRT) Stock Crosses Above 200-Day Moving Average – Here’s Why

Air T, Inc. (NASDAQ:AIRT)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.45 and traded as high as $20.51. Air T shares last traded at $20.06, with a volume of 9,167 shares.

Air T Price Performance

The firm has a fifty day moving average price of $19.85 and a two-hundred day moving average price of $20.43. The company has a quick ratio of 1.14, a current ratio of 2.27 and a debt-to-equity ratio of 13.44. The stock has a market capitalization of $55.89 million, a P/E ratio of -23.28 and a beta of 0.76.

Institutional Trading of Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC grew its position in shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,511 shares of the transportation company’s stock after buying an additional 1,600 shares during the quarter. Renaissance Technologies LLC owned 4.29% of Air T worth $2,528,000 as of its most recent filing with the Securities & Exchange Commission. 8.90% of the stock is owned by institutional investors.

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.