Air T (NASDAQ:AIRT) Posts Quarterly Earnings Results

Key Points

• Air T reported a quarterly loss with an EPS of ($0.61) and a negative return on equity of 157.25%.
• The stock price increased by $0.43 to reach $21.83, with a market cap of $58.94 million.
• Wall Street Zen has initiated coverage of Air T, assigning a "hold" rating for the company.

Air T (NASDAQ:AIRT - Get Free Report) posted its quarterly earnings data on Wednesday. The transportation company reported ($0.61) EPS for the quarter, Zacks reports. Air T had a negative return on equity of 157.25% and a negative net margin of 2.51%.

Air T Stock Performance

NASDAQ AIRT traded up $0.43 on Thursday, reaching $21.83. 1,319 shares of the company's stock traded hands, compared to its average volume of 3,990. The firm has a market cap of $58.94 million, a price-to-earnings ratio of -8.03 and a beta of 0.71. The stock has a 50 day moving average price of $21.53 and a 200-day moving average price of $19.08. Air T has a fifty-two week low of $14.56 and a fifty-two week high of $26.70. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.84 and a current ratio of 1.65.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on shares of Air T in a research report on Friday, May 16th. They set a "hold" rating for the company.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.