Montana Technologies Co. (NASDAQ:AIRJ) Sees Significant Growth in Short Interest

Montana Technologies Co. (NASDAQ:AIRJ) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 722,500 shares, an increase of 20.8% from the March 15th total of 598,300 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average trading volume of 64,400 shares, the short-interest ratio is presently 11.2 days.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Montana Technologies in a report on Thursday, March 27th. Alliance Global Partners began coverage on Montana Technologies in a research report on Monday, February 24th. They set a “buy” rating and a $11.00 target price on the stock.

Montana Technologies Stock Up 1.2 %

Shares of NASDAQ AIRJ opened at $4.99 on Monday. Montana Technologies has a fifty-two week low of $4.25 and a fifty-two week high of $21.78. The business has a 50 day moving average price of $6.64 and a two-hundred day moving average price of $7.33. The firm has a market cap of $279.43 million, a PE ratio of 26.26 and a beta of 0.51.

Montana Technologies (NASDAQ:AIRJ) last issued its earnings results on Tuesday, March 25th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). On average, analysts anticipate that Montana Technologies will post 4.97 earnings per share for the current year.

Institutional Trading of Montana Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC acquired a new stake in shares of Montana Technologies in the fourth quarter valued at approximately $85,000. Bank of America Corp DE raised its holdings in shares of Montana Technologies by 8,851.2% in the 4th quarter. Bank of America Corp DE now owns 11,189 shares of the company’s stock worth $89,000 after purchasing an additional 11,064 shares in the last quarter. Heritage Financial Services LLC acquired a new stake in shares of Montana Technologies during the 4th quarter valued at $99,000. Jane Street Group LLC acquired a new position in shares of Montana Technologies in the 4th quarter valued at $117,000. Finally, U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Montana Technologies by 19.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 18,500 shares of the company’s stock worth $147,000 after buying an additional 3,000 shares during the period. 63.65% of the stock is currently owned by institutional investors and hedge funds.

Montana Technologies Company Profile

Montana Technologies Corporation operates as an atmospheric renewable energy and water harvesting technology company. It provides energy and dehumidification, evaporative cooling, and atmospheric water generation through its AirJoule technology. The company is headquartered in Ronan, Montana.