Air T (NASDAQ:AIRT) Posts 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 results on Wednesday. The transportation company reported ($0.61) EPS for the quarter, Zacks reports. Air T had a negative return on equity of 263.91% and a negative net margin of 2.51%.

Air T Stock Down 0.6%

Shares of AIRT stock traded down $0.1350 during mid-day trading on Tuesday, reaching $21.8450. 2,053 shares of the company's stock traded hands, compared to its average volume of 5,129. Air T has a 12 month low of $14.56 and a 12 month high of $26.70. The company has a market cap of $58.98 million, a P/E ratio of -8.03 and a beta of 0.71. The company has a quick ratio of 1.08, a current ratio of 1.89 and a debt-to-equity ratio of 15.79. The company's 50-day moving average price is $21.66 and its 200-day moving average price is $19.09.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on shares of Air T in a research note on Friday, May 16th. They issued a "hold" rating on the stock.

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.