Air T Inc. (AIRT) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the services sector halfway through the trading day. At the lunch break, shares of AIRT have fallen 4.49% to $21.2 after closing the day prior at $22.2. So far, the stock has traded as high as $21.62 and as low as $21.17. Today’s decline has come with about 1,360 shares changing hands, compared to an average 30-day volume of 4,307 for Air T Inc.. The price is currently below the 30-day volume weighted average price of $21.24 for AIRT.
The share depreciation gives the company a market capitalization of $45.35 million based upon 2.04 million shares outstanding. It also means that AIRT has a price-to-book ratio of 1.45:1.
In the past 52 weeks, shares of AIRT have traded as low as $16.49 and as high as $26.99. Technical traders will take note that at $21.2, shares of AIRT are trading below their 200-day MA at $22.96 and above their 50-day MA at $21.08. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is AIRT?
Air T Inc provides overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other special purpose industrial equipment, and provides ground support equipment and facilities maintenance to airlines. The company’s 600 employees are led by CEO Nicholas J. Swenson from the corporate headquarters at 3524 Airport Road in Maiden, NC.
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