Air T (NASDAQ:AIRT) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Air T, Inc. (NASDAQ:AIRT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.52 and traded as high as $33.75. Air T shares last traded at $31.75, with a volume of 38,209 shares.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Air T from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Air T currently has an average rating of “Hold”.

Air T Stock Performance

The stock has a market cap of $85.09 million, a PE ratio of 1.35 and a beta of 0.27. The company has a fifty day moving average price of $29.12 and a 200 day moving average price of $24.52. The company has a quick ratio of 0.61, a current ratio of 1.43 and a debt-to-equity ratio of 3.55.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Air T stock. BlackRock Inc. bought a new position in Air T, Inc. (NASDAQ:AIRT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,583 shares of the transportation company’s stock, valued at approximately $121,000. BlackRock Inc. owned 0.17% of Air T as of its most recent SEC filing. Institutional investors and hedge funds own 8.90% of the company’s stock.

Air T Company Profile

Air T, Inc (NASDAQ: AIRT) is a U.S.-based telecommunications company specializing in prepaid and pay-as-you-go voice and data services. Headquartered in Boca Raton, Florida, Air T offers a mix of retail and wholesale solutions designed to connect end users and enterprise customers across domestic and international markets. The company’s product portfolio includes prepaid wireless plans, long-distance calling services, roaming arrangements, calling cards and VoIP solutions.

Through proprietary networks and strategic partnerships with major carriers, Air T provides voice and data connectivity under subscription-free and subscription-based models.