Air T (NASDAQ:AIRT) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

Air T, Inc. (NASDAQ:AIRT)’s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $29.22 and traded as high as $30.65. Air T shares last traded at $29.90, with a volume of 11,446 shares.

Analysts Set New Price Targets

Several equities analysts have commented on AIRT shares. Wall Street Zen upgraded Air T to a “sell” rating in a research report on Saturday, September 19th. Weiss Ratings cut Air T from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, October 27th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Air T Price Performance

The stock has a market cap of $80.13 million, a P/E ratio of 1.27 and a beta of 0.25. The company’s 50 day moving average price is $29.22 and its 200-day moving average price is $25.50. The company has a quick ratio of 0.61, a current ratio of 1.43 and a debt-to-equity ratio of 3.55.

Air T (NASDAQ:AIRT) last posted its quarterly earnings data on Friday, August 14th. The transportation company reported ($5.86) earnings per share for the quarter. Air T had a net margin of 17.17% and a return on equity of 176.42%. The company had revenue of $115.46 million during the quarter.

Institutional Investors Weigh In On Air T

An institutional investor recently bought a new stake in Air T stock. BlackRock Inc. acquired a new position in Air T, Inc. (NASDAQ:AIRT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,583 shares of the transportation company’s stock, valued at approximately $121,000. BlackRock Inc. owned 0.17% of Air T at the end of the most recent quarter. 8.90% of the stock is owned by hedge funds and other institutional investors.

About Air T

Air T, Inc. is a holding company that operates through businesses serving the aviation and air transportation industries. Founded in 1980, the company is based in Maiden, North Carolina, and has historically built its operations around air cargo transportation and aviation support services. Through its air cargo subsidiaries, including Mountain Air Cargo, Inc. and CSA Air, Inc., Air T provides regional overnight freight and feeder services, primarily under contractual arrangements with FedEx. These carriers operate aircraft and routes supporting the broader express-package delivery network.