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. Based on an average daily trading volume, of 64,400 shares, the short-interest ratio is presently 11.2 days. Currently, 3.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

AIRJ has been the topic of a number of research analyst reports. Alliance Global Partners started coverage on Montana Technologies in a research report on Monday, February 24th. They issued a “buy” rating and a $11.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Montana Technologies in a research report on Thursday, March 27th.

Institutional Investors Weigh In On Montana Technologies

A number of institutional investors have recently added to or reduced their stakes in AIRJ. Millennium Management LLC purchased a new stake in shares of Montana Technologies during the fourth quarter worth $85,000. Bank of America Corp DE lifted its stake 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 valued at $89,000 after purchasing an additional 11,064 shares during the last quarter. Heritage Financial Services LLC acquired a new position in Montana Technologies in the fourth quarter valued at about $99,000. Jane Street Group LLC purchased a new position in shares of Montana Technologies during the 4th quarter worth approximately $117,000. Finally, U.S. Capital Wealth Advisors LLC boosted its position in shares of Montana Technologies by 19.4% during 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. Institutional investors and hedge funds own 63.65% of the company’s stock.

Montana Technologies Stock Up 1.2 %

Shares of AIRJ opened at $4.99 on Monday. The company has a 50 day moving average of $6.64 and a two-hundred day moving average of $7.33. Montana Technologies has a twelve month low of $4.25 and a twelve month high of $21.78. The company has a market cap of $279.43 million, a price-to-earnings 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). On average, sell-side analysts expect that Montana Technologies will post 4.97 EPS for the current year.

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.