Montana Technologies (NASDAQ:AIRJ) Announces Earnings Results

Montana Technologies (NASDAQ:AIRJ) announced its earnings results on Tuesday. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16), Zacks reports.

Montana Technologies Stock Performance

AIRJ traded down $0.30 during trading on Thursday, reaching $5.00. The company’s stock had a trading volume of 123,112 shares, compared to its average volume of 65,917. The company has a market capitalization of $278.94 million, a price-to-earnings ratio of 26.68 and a beta of 0.20. The company’s fifty day moving average price is $7.92 and its 200-day moving average price is $7.47. Montana Technologies has a 52-week low of $4.82 and a 52-week high of $21.78.

Institutional Trading of Montana Technologies

A hedge fund recently raised its stake in Montana Technologies stock. Bank of America Corp DE grew its stake in shares of Montana Technologies Co. (NASDAQ:AIRJ) by 8,851.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,189 shares of the company’s stock after purchasing an additional 11,064 shares during the period. Bank of America Corp DE’s holdings in Montana Technologies were worth $89,000 at the end of the most recent reporting period. 63.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Montana Technologies in a research note on Thursday. Alliance Global Partners began coverage on Montana Technologies in a research note on Monday, February 24th. They set a “buy” rating and a $11.00 price target for the company.

About Montana Technologies

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.