Air T (NASDAQ:AIRT) Posts Earnings Results

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

Air T Stock Up 1.5%

Air T stock traded up $0.43 during mid-day trading on Friday, reaching $29.43. 5,109 shares of the company were exchanged, compared to its average volume of 5,394. The business has a fifty day moving average of $26.45 and a 200 day moving average of $23.68. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.87 and a current ratio of 1.67. The firm has a market cap of $79.23 million, a P/E ratio of 1.02 and a beta of 0.27. Air T has a 12-month low of $18.35 and a 12-month high of $35.00.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Air T stock. BlackRock Inc. acquired a new position in Air T, Inc. (NASDAQ:AIRT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,583 shares of the transportation company’s stock, valued at approximately $121,000. BlackRock Inc. owned approximately 0.17% of Air T at the end of the most recent reporting period. 8.90% of the stock is currently owned by hedge funds and other institutional investors.

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.