AirJoule Technologies (NASDAQ:AIRJ) Posts 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) announced its quarterly earnings data 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 Trading Down 2.5%

Shares of NASDAQ:AIRJ traded down $0.12 during trading on Tuesday, hitting $4.64. 2,896 shares of the stock were exchanged, compared to its average volume of 109,550. The company has a fifty day moving average price of $4.57 and a two-hundred day moving average price of $5.47. The company has a market cap of $259.84 million, a PE ratio of 8.76 and a beta of 0.42. AirJoule Technologies has a 12-month low of $3.74 and a 12-month high of $11.60.

Insider Activity at AirJoule Technologies

In other news, CFO Stephen S. Pang sold 7,635 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 15,036 shares of company stock worth $63,602. 40.39% of the stock is owned by insiders.

Institutional Investors Weigh In On AirJoule Technologies

Institutional investors have recently modified their holdings of the company. Group One Trading LLC acquired a new position in shares of AirJoule Technologies during the 2nd quarter worth approximately $42,000. Raymond James Financial Inc. acquired a new position in shares of AirJoule Technologies during the 2nd quarter worth approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of AirJoule Technologies during the 2nd quarter worth approximately $54,000. Invesco Ltd. acquired a new position in shares of AirJoule Technologies during the 2nd quarter worth approximately $50,000. Finally, New York State Common Retirement Fund acquired a new position in shares of AirJoule Technologies during the 2nd quarter worth approximately $98,000. Hedge funds and other institutional investors own 63.65% of the company's stock.

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.