Air T (NASDAQ:AIRT) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Air T (NASDAQ:AIRT) in a research note issued to investors on Monday. The firm issued a hold rating on the transportation company’s stock.

Air T Stock Down 2.1 %

Shares of NASDAQ:AIRT opened at $21.91 on Monday. Air T has a 52-week low of $12.53 and a 52-week high of $28.62. The firm has a fifty day moving average of $19.39 and a 200 day moving average of $19.00. The firm has a market capitalization of $61.79 million, a PE ratio of -4.41 and a beta of 0.76. The company has a debt-to-equity ratio of 10.49, a quick ratio of 0.79 and a current ratio of 1.99.

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

Institutional Trading of Air T

Institutional investors have recently modified their holdings of the company. UBS Group AG raised its stake in Air T by 11,365.0% in the fourth quarter. UBS Group AG now owns 14,102 shares of the transportation company’s stock worth $238,000 after buying an additional 13,979 shares in the last quarter. DCF Advisers LLC raised its stake in Air T by 20.0% in the first quarter. DCF Advisers LLC now owns 12,000 shares of the transportation company’s stock worth $273,000 after buying an additional 1,996 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Air T by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,569 shares of the transportation company’s stock worth $441,000 after buying an additional 752 shares in the last quarter. Morgan Stanley raised its stake in Air T by 2.2% in the fourth quarter. Morgan Stanley now owns 22,750 shares of the transportation company’s stock worth $562,000 after buying an additional 500 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Air T by 4.5% in the third quarter. Vanguard Group Inc. now owns 53,347 shares of the transportation company’s stock worth $913,000 after buying an additional 2,300 shares in the last quarter. 8.90% of the stock is currently owned by hedge funds and other 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.