Air T (NASDAQ:AIRT) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Air T, Inc. (NASDAQ:AIRT) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $20.90 and traded as low as $19.34. Air T shares last traded at $21.11, with a volume of 22,490 shares traded.

Air T Price Performance

The stock has a 50-day simple moving average of $18.38 and a 200 day simple moving average of $20.89. The company has a market cap of $58.26 million, a PE ratio of -24.26 and a beta of 0.75. 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 Investors Weigh In On Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC raised its position in Air T, Inc. (NASDAQ:AIRT) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,511 shares of the transportation company’s stock after purchasing an additional 1,600 shares during the quarter. Renaissance Technologies LLC owned 4.29% of Air T worth $2,528,000 as of its most recent SEC filing. 8.90% of the stock is currently owned by 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.