AirJoule Technologies (NASDAQ:AIRJ) Stock Price Down 4.4% Following Weak Earnings

AirJoule Technologies Corporation (NASDAQ:AIRJ)’s stock price was down 4.4% on Friday following a dissappointing earnings announcement. The stock traded as low as $5.49 and last traded at $6.04. Approximately 2,790,794 shares changed hands during trading, an increase of 176% from the average session volume of 1,010,958 shares. The stock had previously closed at $6.32.

The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.04).

Analysts Set New Price Targets

AIRJ has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of AirJoule Technologies from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of AirJoule Technologies in a research note on Monday, May 18th. B. Riley Financial started coverage on AirJoule Technologies in a report on Thursday, April 30th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Seaport Research Partners assumed coverage on AirJoule Technologies in a report on Friday, May 8th. They set a “buy” rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

Hedge Funds Weigh In On AirJoule Technologies

Several institutional investors have recently bought and sold shares of the company. Vident Advisory LLC purchased a new stake in AirJoule Technologies in the fourth quarter worth $1,849,000. Geode Capital Management LLC grew its stake in shares of AirJoule Technologies by 111.1% during the 2nd quarter. Geode Capital Management LLC now owns 517,203 shares of the company’s stock worth $2,395,000 after acquiring an additional 272,253 shares during the period. Renaissance Technologies LLC grew its stake in shares of AirJoule Technologies by 417.1% during the 4th quarter. Renaissance Technologies LLC now owns 287,500 shares of the company’s stock worth $1,133,000 after acquiring an additional 231,900 shares during the period. Marshall Wace LLP increased its holdings in AirJoule Technologies by 160.9% in the 4th quarter. Marshall Wace LLP now owns 314,948 shares of the company’s stock worth $1,241,000 after acquiring an additional 194,212 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in AirJoule Technologies in the 1st quarter worth about $482,000. Hedge funds and other institutional investors own 63.65% of the company’s stock.

AirJoule Technologies Stock Performance

The stock has a 50 day moving average of $4.71 and a 200-day moving average of $3.87. The firm has a market capitalization of $437.30 million, a P/E ratio of -5.30 and a beta of 0.86.

AirJoule 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.