StockNews.com Begins Coverage on Air T (NASDAQ:AIRT)

StockNews.com started coverage on shares of Air T (NASDAQ:AIRT) in a report issued on Monday morning. The firm issued a hold rating on the transportation company’s stock.

Air T Stock Performance

Shares of AIRT stock opened at $22.38 on Monday. The stock has a market cap of $63.16 million, a P/E ratio of -4.50 and a beta of 0.76. The company has a debt-to-equity ratio of 10.49, a current ratio of 1.99 and a quick ratio of 0.79. The company has a fifty day moving average price of $19.30 and a two-hundred day moving average price of $18.98. Air T has a one year low of $12.53 and a one year high of $28.62.

Air T (NASDAQ:AIRT) last announced its quarterly earnings results on Monday, February 12th. The transportation company reported ($1.06) EPS for the quarter. The firm had revenue of $63.76 million during the quarter. Air T had a negative net margin of 4.91% and a negative return on equity of 87.44%.

Hedge Funds Weigh In On Air T

Several large investors have recently modified their holdings of AIRT. UBS Group AG raised its position in shares of Air T by 11,365.0% in the fourth quarter. UBS Group AG now owns 14,102 shares of the transportation company’s stock valued at $238,000 after purchasing an additional 13,979 shares during the period. Vanguard Group Inc. raised its position in shares of Air T by 4.5% in the third quarter. Vanguard Group Inc. now owns 53,347 shares of the transportation company’s stock valued at $913,000 after purchasing an additional 2,300 shares during the period. DCF Advisers LLC increased its position in Air T by 20.0% during the first quarter. DCF Advisers LLC now owns 12,000 shares of the transportation company’s stock worth $273,000 after acquiring an additional 1,996 shares during the period. Dimensional Fund Advisors LP increased its position in Air T by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,569 shares of the transportation company’s stock worth $441,000 after acquiring an additional 752 shares during the period. Finally, Morgan Stanley increased its position in Air T by 2.2% during the fourth quarter. Morgan Stanley now owns 22,750 shares of the transportation company’s stock worth $562,000 after acquiring an additional 500 shares during the period. 8.90% of the stock is owned by institutional investors.

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.