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

Air T, Inc. (NASDAQ:AIRT) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $20.45 and traded as high as $20.51. Air T shares last traded at $20.06, with a volume of 9,167 shares trading hands.

Air T Price Performance

The company has a market cap of $55.89 million, a PE ratio of -23.28 and a beta of 0.76. The firm’s 50-day moving average is $19.85 and its 200-day moving average is $20.43. The company has a quick ratio of 1.14, a current ratio of 2.27 and a debt-to-equity ratio of 13.44.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC increased its holdings in shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,511 shares of the transportation company’s stock after acquiring an additional 1,600 shares during the period. Renaissance Technologies LLC owned approximately 4.29% of Air T worth $2,528,000 at the end of the most recent reporting period. 8.90% of the stock is currently owned by institutional investors and hedge funds.

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.