Air T (NASDAQ:AIRT) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

Air T, Inc. (NASDAQ:AIRT)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $22.65 and traded as high as $31.99. Air T shares last traded at $28.00, with a volume of 6,913 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Air T in a research note on Friday, May 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Air T Stock Down 12.5%

The stock has a market cap of $75.52 million, a price-to-earnings ratio of 0.97 and a beta of 0.30. The stock has a 50 day simple moving average of $22.65 and a 200 day simple moving average of $22.06. The company has a quick ratio of 0.87, a current ratio of 1.67 and a debt-to-equity ratio of 2.53.

Air T (NASDAQ:AIRT) last issued its earnings results on Monday, June 29th. The transportation company reported $28.75 earnings per share (EPS) for the quarter. Air T had a return on equity of 416.49% and a net margin of 23.84%.The company had revenue of $120.94 million for the quarter.

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.