Air Industries Group (NYSEAMERICAN:AIRI) Trading 1.9% Higher – Here’s Why

Air Industries Group (NYSEAMERICAN:AIRI) shares rose 1.9% on Thursday . The stock traded as high as $2.78 and last traded at $2.67. Approximately 26,351 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 48,334 shares. The stock had previously closed at $2.62.

Air Industries Group Stock Performance

The stock has a market cap of $13.19 million, a PE ratio of -9.71 and a beta of 0.06. The stock has a 50-day simple moving average of $2.94 and a 200-day simple moving average of $3.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.25 and a quick ratio of 0.33.

Air Industries Group (NYSEAMERICAN:AIRI) last announced its earnings results on Friday, March 27th. The company reported $0.05 EPS for the quarter. The company had revenue of $12.81 million for the quarter. Air Industries Group had a negative return on equity of 7.38% and a negative net margin of 2.82%.

Hedge Funds Weigh In On Air Industries Group

Several institutional investors have recently modified their holdings of AIRI. Dimensional Fund Advisors LP raised its holdings in Air Industries Group by 14.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 32,053 shares of the company’s stock worth $104,000 after buying an additional 4,051 shares during the period. Virtu Financial LLC bought a new stake in Air Industries Group in the 4th quarter valued at $83,000. Finally, Citadel Advisors LLC bought a new position in Air Industries Group during the 3rd quarter worth about $77,000. Institutional investors own 42.68% of the company’s stock.

About Air Industries Group

Air Industries Group, Inc (NYSE American: AIRI) is a precision engineering company headquartered in Ronkonkoma, New York. The firm specializes in the design, development and manufacture of air and gas handling solutions for high-performance applications. Its core offerings include turbomachinery components such as blowers, fans, compressors and turbines, as well as heat exchangers and related assemblies. Air Industries Group serves as an original equipment manufacturer (OEM) and a trusted supplier to a range of industries, with a particular focus on defense and aerospace.

The company’s product portfolio addresses the demanding requirements of military and commercial aerospace platforms, providing mission-critical airflow and thermal management systems.