Air T (NASDAQ:AIRT) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Air T, Inc. (NASDAQ:AIRT)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.69 and traded as low as $20.07. Air T shares last traded at $20.75, with a volume of 11,787 shares.

Air T Trading Down 3.9 %

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 business’s fifty day moving average price is $18.90 and its 200 day moving average price is $20.67. The firm has a market capitalization of $55.06 million, a PE ratio of -22.93 and a beta of 0.75.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC boosted its holdings in Air T, Inc. (NASDAQ:AIRT) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,511 shares of the transportation company’s stock after buying an additional 1,600 shares during the period. Renaissance Technologies LLC owned approximately 4.29% of Air T worth $2,528,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.90% of the company’s stock.

Air T Company Profile

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.