Air T, Inc. (NASDAQ:AIRT) Short Interest Up 1,300.0% in August

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Air T, Inc. (NASDAQ:AIRT) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,400 shares, an increase of 1,300.0% from the July 31st total of 100 shares. Based on an average daily volume of 2,600 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the shares of the company are sold short.

Shares of Air T stock traded up $0.01 during trading on Wednesday, reaching $17.16. The company’s stock had a trading volume of 400 shares, compared to its average volume of 2,744. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.87 and a current ratio of 1.47. The business’s fifty day moving average price is $17.53 and its 200-day moving average price is $23.68. The firm has a market cap of $51.99 million, a price-to-earnings ratio of 12.38 and a beta of 1.22. Air T has a one year low of $14.95 and a one year high of $29.53.

Air T (NASDAQ:AIRT) last announced its earnings results on Wednesday, August 14th. The transportation company reported $0.79 earnings per share for the quarter. The firm had revenue of $55.71 million during the quarter. Air T had a return on equity of 9.92% and a net margin of 0.12%.

A hedge fund recently raised its stake in Air T stock. Deutsche Bank AG raised its holdings in shares of Air T, Inc. (NASDAQ:AIRT) by 212.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,500 shares of the transportation company’s stock after buying an additional 1,700 shares during the quarter. Deutsche Bank AG owned about 0.12% of Air T worth $61,000 as of its most recent SEC filing. 18.48% of the stock is currently owned by hedge funds and other institutional investors.

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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