Air T (NASDAQ:AIRT) Shares Cross Below 200-Day Moving Average - What's Next?

Key Points

• Air T shares fell below their 200-day moving average of $26.29, trading as low as $25.63 and last changing hands at $25.91.
• Analyst sentiment remains cautious: Air T carries an average “Hold” rating, while Wall Street Zen downgraded the stock to “Sell.”
• The company reported a quarterly loss of $5.86 per share on $115.46 million in revenue; meanwhile, BlackRock initiated a position worth approximately $121,000.

Shares of Air T, Inc. (NASDAQ:AIRT - Get Free Report) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $26.29 and traded as low as $25.63. Air T shares last traded at $25.91, with a volume of 54,456 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Air T from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, October 6th. Wall Street Zen upgraded Air T to a "sell" rating in a research note on Saturday, September 19th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company has an average rating of "Hold".

Air T Stock Down 0.9%

The stock has a market capitalization of $69.44 million, a price-to-earnings ratio of 1.10 and a beta of 0.21. The company has a quick ratio of 0.61, a current ratio of 1.43 and a debt-to-equity ratio of 3.55. The business's 50-day moving average is $29.92 and its two-hundred day moving average is $26.29.

Air T (NASDAQ:AIRT - Get Free Report) last posted its earnings results on Friday, August 14th. The transportation company reported ($5.86) EPS for the quarter. The company had revenue of $115.46 million during the quarter. Air T had a net margin of 17.17% and a return on equity of 176.42%.

Institutional Investors Weigh In On Air T

A hedge fund recently bought a new position in Air T stock. BlackRock Inc. acquired a new position in shares of Air T, Inc. (NASDAQ:AIRT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,583 shares of the transportation company's stock, valued at approximately $121,000. BlackRock Inc. owned 0.17% of Air T at the end of the most recent quarter. Institutional investors own 8.90% of the company's stock.

About Air T

Air T, Inc NASDAQ: AIRT is a diversified holding company focused on aviation-related businesses. The company operates through subsidiaries that provide overnight air cargo transportation, aviation ground support services, and specialized ground support equipment.

Through Mountain Air Cargo, Inc, Air T provides contract air cargo services, primarily supporting express delivery networks. Its ground support operations include the sale, maintenance, and servicing of equipment used by airports, airlines, and other aviation customers.

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