AirJoule Technologies (NASDAQ:AIRJ) Announces Earnings Results

Key Points

• AirJoule Technologies reported earnings of $0.04 per share, surpassing analysts' expectations of a loss of $0.09 by $0.13.
• The company's stock price increased to $5.02, with a market capitalization of $281.11 million and a P/E ratio of 6.88.
• Insiders have sold a total of 15,036 shares recently, leading to a 33.02% decrease in ownership by CFO Stephen S. Pang.

AirJoule Technologies (NASDAQ:AIRJ - Get Free Report) issued its earnings results on Wednesday. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.13, Zacks reports.

AirJoule Technologies Stock Performance

NASDAQ AIRJ traded up $0.26 on Thursday, reaching $5.02. 316,445 shares of the stock traded hands, compared to its average volume of 110,472. The company has a fifty day moving average price of $4.53 and a 200-day moving average price of $5.56. The company has a market cap of $281.11 million, a price-to-earnings ratio of 6.88 and a beta of 0.42. AirJoule Technologies has a 12 month low of $3.74 and a 12 month high of $11.60.

Insiders Place Their Bets

In other AirJoule Technologies news, CFO Stephen S. Pang sold 7,635 shares of AirJoule Technologies stock in a transaction on Monday, June 9th. The stock was sold at an average price of $4.23, for a total transaction of $32,296.05. Following the completion of the sale, the chief financial officer directly owned 15,490 shares of the company's stock, valued at $65,522.70. The trade was a 33.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 15,036 shares of company stock worth $63,602. Insiders own 58.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of AirJoule Technologies in the 2nd quarter worth $31,000. Invesco Ltd. bought a new position in shares of AirJoule Technologies in the 2nd quarter worth $50,000. Bank of America Corp DE raised its position in shares of AirJoule Technologies by 8,851.2% in the 4th quarter. Bank of America Corp DE now owns 11,189 shares of the company's stock worth $89,000 after acquiring an additional 11,064 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of AirJoule Technologies in the 2nd quarter worth $54,000. Finally, XTX Topco Ltd bought a new position in shares of AirJoule Technologies in the 2nd quarter worth $57,000. 63.65% of the stock is owned by institutional investors.

About AirJoule 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.

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