Air T (NASDAQ:AIRT) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Air T, Inc. (NASDAQ:AIRT) shares have surpassed their 200-day moving average of $20.70, trading as high as $22.50 and closing at $22.18.
• Despite the recent price movement, Weiss Ratings has reaffirmed a "sell (d-)" rating for Air T, indicating ongoing negative sentiment from analysts.
• For the previous quarter, Air T reported a loss of ($0.61) earnings per share and a negative net margin of 2.51% on revenues of $70.87 million.

Air T, Inc. (NASDAQ:AIRT - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.70 and traded as high as $22.50. Air T shares last traded at $22.18, with a volume of 484 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Air T in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of "Sell".

Air T Trading Down 3.0%

The firm has a 50 day simple moving average of $23.39 and a 200 day simple moving average of $20.70. The firm has a market capitalization of $59.89 million, a PE ratio of -8.15 and a beta of 0.73.

Air T (NASDAQ:AIRT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The transportation company reported ($0.61) earnings per share for the quarter. The business had revenue of $70.87 million during the quarter. Air T had a negative return on equity of 263.91% and a negative net margin of 2.51%.

Air T Company Profile

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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