Air T (NASDAQ:AIRT) Issues Quarterly Earnings Results

Air T (NASDAQ:AIRT) posted its quarterly earnings results on Friday. The transportation company reported ($5.86) earnings per share (EPS) for the quarter, FiscalAI reports. Air T had a net margin of 23.84% and a return on equity of 416.49%. The business had revenue of $115.46 million for the quarter.

Air T Trading Up 1.5%

Shares of AIRT opened at $29.43 on Friday. The stock has a market capitalization of $79.17 million, a P/E ratio of 1.25 and a beta of 0.27. The firm has a fifty day simple moving average of $26.61 and a two-hundred day simple moving average of $23.72. 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 has a twelve month low of $18.35 and a twelve month high of $35.00.

Wall Street Analyst Weigh In

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

Institutional Trading of Air T

A hedge fund recently bought a new position in Air T stock. BlackRock Inc. purchased a new stake in shares of Air T, Inc. (NASDAQ:AIRT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,583 shares of the transportation company’s stock, valued at approximately $121,000. BlackRock Inc. owned about 0.17% of Air T at the end of the most recent reporting period. Institutional investors own 8.90% of the company’s stock.

About Air T

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.