Montana Technologies (NASDAQ:AIRJ) Issues Earnings Results

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

Montana Technologies Stock Performance

AIRJ stock traded down $0.39 during midday trading on Thursday, reaching $4.91. 150,612 shares of the company were exchanged, compared to its average volume of 66,025. The stock’s 50-day simple moving average is $7.92 and its 200 day simple moving average is $7.47. Montana Technologies has a 1-year low of $4.82 and a 1-year high of $21.78. The company has a market cap of $273.91 million, a price-to-earnings ratio of 25.82 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 lifted its holdings in shares of Montana Technologies Co. (NASDAQ:AIRJ) by 8,851.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,189 shares of the company’s stock after acquiring 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. Institutional investors own 63.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AIRJ. Alliance Global Partners initiated coverage on shares of Montana Technologies in a research report on Monday, February 24th. They set a “buy” rating and a $11.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Montana Technologies in a report on Thursday.

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.