Montana Technologies Co. (NASDAQ:AIRJ - Get Free Report) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 589,000 shares, a growth of 109.5% from the December 15th total of 281,100 shares. Based on an average trading volume of 83,000 shares, the short-interest ratio is currently 7.1 days. Approximately 2.8% of the company's shares are sold short.
Hedge Funds Weigh In On Montana Technologies
Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Montana Technologies by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 187,105 shares of the company's stock worth $1,086,000 after purchasing an additional 4,905 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in shares of Montana Technologies during the third quarter worth about $508,000. HighTower Advisors LLC purchased a new stake in shares of Montana Technologies in the third quarter worth about $342,000. Charles Schwab Investment Management Inc. grew its stake in shares of Montana Technologies by 14.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 69,733 shares of the company's stock valued at $404,000 after buying an additional 8,714 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Montana Technologies during the 2nd quarter valued at about $81,000. 63.65% of the stock is owned by institutional investors and hedge funds.
Montana Technologies Stock Up 1.1 %
Shares of AIRJ traded up $0.09 during mid-day trading on Tuesday, reaching $7.96. The company had a trading volume of 77,725 shares, compared to its average volume of 85,678. The firm has a fifty day simple moving average of $8.17 and a 200-day simple moving average of $7.80. Montana Technologies has a fifty-two week low of $4.94 and a fifty-two week high of $49.11.
Wall Street Analyst Weigh In
Separately, HC Wainwright began coverage on Montana Technologies in a research note on Friday, December 20th. They issued a "buy" rating and a $12.00 price target on the stock.
Check Out Our Latest Stock Analysis on AIRJ
About Montana Technologies
(
Get Free Report)
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.
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