Air T (NASDAQ:AIRT) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Air T, Inc. shares crossed above their 200-day moving average during trading, reaching a high of $21.65 before last trading at $22.26.
• Wall Street analysts have initiated coverage on Air T, assigning a "hold" rating on the stock.
• For the latest quarter, Air T reported a loss of ($2.55) earnings per share (EPS) with a revenue of $66.32 million.

Shares of Air T, Inc. (NASDAQ:AIRT - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.02 and traded as high as $21.65. Air T shares last traded at $22.26, with a volume of 687 shares traded.

Wall Street Analysts Forecast Growth

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

Air T Stock Down 2.6%

The firm has a 50-day simple moving average of $21.09 and a 200 day simple moving average of $19.02. The stock has a market capitalization of $60.09 million, a P/E ratio of -9.98 and a beta of 0.71. The company has a debt-to-equity ratio of 15.79, a current ratio of 1.65 and a quick ratio of 0.84.

Air T (NASDAQ:AIRT - Get Free Report) last issued its quarterly earnings data on Friday, June 27th. The transportation company reported ($2.55) earnings per share (EPS) for the quarter. Air T had a negative net margin of 2.10% and a negative return on equity of 126.83%. The business had revenue of $66.32 million during the quarter.

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.

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