Montana Technologies Co. (NASDAQ:AIRJ) Sees Large Growth in Short Interest

Montana Technologies Co. (NASDAQ:AIRJ - Get Free Report) saw a large 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. Approximately 3.4% of the shares of the company are short sold. Based on an average daily volume of 64,400 shares, the short-interest ratio is presently 11.2 days.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AIRJ. Alliance Global Partners assumed coverage on Montana Technologies in a research report on Monday, February 24th. They set a "buy" rating and a $11.00 price target for the company. HC Wainwright reiterated a "buy" rating and issued a $12.00 price objective on shares of Montana Technologies in a research note on Thursday, March 27th.

Institutional Investors Weigh In On Montana Technologies

Hedge funds have recently modified their holdings of the company. HighTower Advisors LLC acquired a new position in Montana Technologies in the 3rd quarter worth about $342,000. Geode Capital Management LLC raised its position in Montana Technologies by 2.7% during the third quarter. Geode Capital Management LLC now owns 187,105 shares of the company's stock worth $1,086,000 after acquiring an additional 4,905 shares during the period. Heritage Financial Services LLC purchased a new stake in shares of Montana Technologies during the fourth quarter worth about $99,000. U.S. Capital Wealth Advisors LLC raised its holdings 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 valued at $147,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Montana Technologies by 72.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 120,219 shares of the company's stock worth $958,000 after purchasing an additional 50,486 shares in the last quarter. 63.65% of the stock is owned by hedge funds and other institutional investors.

Montana Technologies Price Performance

AIRJ stock traded down $0.03 during trading on Thursday, hitting $4.96. 83,569 shares of the company traded hands, compared to its average volume of 71,808. Montana Technologies has a 1 year low of $4.25 and a 1 year high of $21.78. The stock's 50-day simple moving average is $6.46 and its 200 day simple moving average is $7.29. The company has a market cap of $277.47 million, a PE ratio of 26.08 and a beta of 0.51.

Montana Technologies (NASDAQ:AIRJ - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.16). Research analysts expect that Montana Technologies will post 4.97 earnings per share 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.