Montana Technologies (NASDAQ:AIRJ) Issues Earnings Results

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

Montana Technologies Stock Down 5.6 %

Shares of AIRJ traded down $0.30 during mid-day trading on Thursday, reaching $5.00. 123,112 shares of the company’s stock were exchanged, compared to its average volume of 65,917. Montana Technologies has a 52-week low of $4.82 and a 52-week high of $21.78. The company has a 50-day simple moving average of $7.92 and a two-hundred day simple moving average of $7.47. The company has a market cap of $278.94 million, a price-to-earnings ratio of 26.68 and a beta of 0.20.

Institutional Investors Weigh In On Montana Technologies

An institutional investor recently raised its position in Montana Technologies stock. Bank of America Corp DE grew its stake in Montana Technologies Co. (NASDAQ:AIRJ) by 8,851.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,189 shares of the company’s stock after acquiring an additional 11,064 shares during the quarter. Bank of America Corp DE’s holdings in Montana Technologies were worth $89,000 at the end of the most recent quarter. 63.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AIRJ shares. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Montana Technologies in a report on Thursday. 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 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.