Air T, Inc. (NASDAQ:AIRT) Sees Large Growth in Short Interest

Air T, Inc. (NASDAQ:AIRT) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 2,800 shares, an increase of 16.7% from the December 15th total of 2,400 shares. Based on an average daily volume of 2,900 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.2% of the company’s stock are sold short.

In other Air T news, Director Raymond E. Cabillot acquired 4,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $19.67 per share, for a total transaction of $88,515.00. Following the completion of the purchase, the director now directly owns 4,500 shares in the company, valued at $88,515. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond E. Cabillot acquired 1,687 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were acquired at an average price of $21.80 per share, for a total transaction of $36,776.60. Following the purchase, the director now owns 5,832 shares of the company’s stock, valued at $127,137.60. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 7,519 shares of company stock worth $154,475. Company insiders own 53.14% of the company’s stock.

Separately, ValuEngine upgraded shares of Air T from a “sell” rating to a “hold” rating in a research report on Monday, December 9th.

Air T stock opened at $21.09 on Wednesday. The firm has a 50 day simple moving average of $21.32 and a 200-day simple moving average of $18.84. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.77 and a quick ratio of 1.05. The stock has a market capitalization of $63.69 million, a PE ratio of 20.95 and a beta of 1.31. Air T has a 12-month low of $12.51 and a 12-month high of $24.50.

Air T (NASDAQ:AIRT) last posted its quarterly earnings data on Wednesday, November 13th. The transportation company reported ($0.80) earnings per share (EPS) for the quarter. The company had revenue of $50.69 million during the quarter. Air T had a net margin of 2.98% and a return on equity of 5.13%.

About Air T

Air T, Inc, together with its subsidiaries, provides overnight air cargo, ground equipment sale, and ground support services in the United States and internationally. The company's Overnight Air Cargo segment offers air express delivery services. As of March 31, 2018, this segment had 79 aircrafts under the dry-lease agreements with FedEx.

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