StockNews.com Initiates Coverage on Air T with a Hold Rating

StockNews.com, a team of equities researchers, has recently started to follow Air T (NASDAQ:AIRT), issuing a research note on Sunday where they have given the transportation company's stock a 'hold' rating.

Air T Stock Opens at $16.60

The trading for Air T's shares kicked off at $16.60 this past Friday. The company's valuation fluctuates between a 52-week low of $15.91 and a high of $28.95, with a current market capitalization standing at approximately $46.81 million. The price-to-earnings (PE) ratio is currently at -4.03 with a beta of 0.87. Air T's balance sheet shows a debt-to-equity ratio of 7.68, a current ratio of 1.94, and a quick ratio of 0.86. Stock prices have been averaging around $20.32 over the past 50 days, and the 200-day moving average rests at $22.44.

Air T's latest earnings report was released on November 13th, revealing a quarterly loss of ($0.57) per share. Despite generating revenues of $78.97 million for the quarter, the company faced a net margin decline of 4.11% and a significant negative return on equity of 49.62%.

Institutional Engagement with Air T

Several significant institutional investors have been engaging with Air T's stock. For instance, Meitav Investment House Ltd. established a new stake worth around $692,000 in the second quarter. DCF Advisers LLC increased their holdings by 20%, now owning 12,000 shares valued at $273,000. Dimensional Fund Advisors LP grew their investment by 4.5% and now possess 17,569 shares. Morgan Stanley also upped their stake by 2.2%, holding 22,750 shares. Vanguard Group Inc. raised their investment by 4.5% and currently holds 53,347 shares. These institutions sum up to 9.30% of the company's ownership.

Understanding Air T's Business

Air T, Inc operates through subsidiaries and provides a variety of transportation-related services. Its Overnight Air Cargo segment manages air express delivery services with a fleet of 85 aircraft under dry-lease agreements with FedEx as of March 31, 2023.

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