AirJoule Technologies (NASDAQ:AIRJ) Shares Up 7.9% - Time to Buy?

Key Points

• AirJoule Technologies shares rose 7.9% to $6.40, with trading volume 76% above average. The stock’s 50-day and 200-day moving averages were $4.67 and $3.81, respectively.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $8.25; individual targets range from $6 to $12.
• The company reported a significant quarterly loss of $0.74 per share versus the $0.06 expected loss, and analysts project a full-year loss of $0.14 per share. Institutional investors own 63.65% of the stock.

Shares of AirJoule Technologies Corporation (NASDAQ:AIRJ - Get Free Report) were up 7.9% on Tuesday . The company traded as high as $6.42 and last traded at $6.40. 1,748,630 shares traded hands during trading, an increase of 76% from the average daily volume of 991,565 shares. The stock had previously closed at $5.93.

Analyst Ratings Changes

A number of research analysts have recently commented on AIRJ shares. B. Riley Financial assumed coverage on AirJoule Technologies in a research note on Thursday, April 30th. They issued a "buy" rating and a $6.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 price target on shares of AirJoule Technologies in a research note on Monday, May 18th. Seaport Research Partners assumed coverage on AirJoule Technologies in a report on Friday, May 8th. They issued a "buy" rating and a $7.00 price objective for the company. Finally, Weiss Ratings upgraded shares of AirJoule Technologies from a "sell (e+)" rating to a "sell (d)" rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.25.

AirJoule Technologies Price Performance

The stock's 50 day simple moving average is $4.67 and its two-hundred day simple moving average is $3.81. The firm has a market cap of $463.36 million, a P/E ratio of -5.61 and a beta of 0.86.

AirJoule Technologies (NASDAQ:AIRJ - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.68). Equities research analysts anticipate that AirJoule Technologies Corporation will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On AirJoule Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC boosted its stake in AirJoule Technologies by 8.3% in the 4th quarter. Corient Private Wealth LLC now owns 1,788,563 shares of the company's stock worth $7,047,000 after purchasing an additional 137,337 shares in the last quarter. Vanguard Group Inc. increased its stake in AirJoule Technologies by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,162,542 shares of the company's stock valued at $5,452,000 after purchasing an additional 73,661 shares in the last quarter. Geode Capital Management LLC increased its stake in AirJoule Technologies by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 584,590 shares of the company's stock valued at $2,304,000 after purchasing an additional 27,648 shares in the last quarter. Vident Advisory LLC purchased a new position in AirJoule Technologies in the fourth quarter worth about $1,849,000. Finally, State Street Corp raised its holdings in AirJoule Technologies by 45.1% in the fourth quarter. State Street Corp now owns 416,263 shares of the company's stock worth $1,640,000 after buying an additional 129,418 shares during the last quarter. 63.65% of the stock is currently 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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