AirJoule Technologies (NASDAQ:AIRJ) Stock Price Down 4.8% - Here's Why

Key Points

• AirJoule Technologies shares fell 4.8% on Monday, trading as low as $3.51 before closing at $3.56, with volume below average at 969,198 shares.
• Analyst sentiment remains mixed but mostly positive: the stock has one Strong Buy, three Buy ratings, and one Sell rating, with an average Moderate Buy rating and a $8.25 average price target.
• The company recently reported a wider-than-expected quarterly loss of $0.74 per share versus the $0.06 consensus loss, while institutional investors still own a large 63.65% stake in the stock.

AirJoule Technologies Corporation (NASDAQ:AIRJ - Get Free Report)'s share price dropped 4.8% on Monday . The stock traded as low as $3.51 and last traded at $3.56. 969,198 shares traded hands during trading, a decline of 21% from the average daily volume of 1,221,884 shares. The stock had previously closed at $3.74.

Analysts Set New Price Targets

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

AirJoule Technologies Stock Down 4.8%

The firm's 50 day moving average is $4.46 and its 200-day moving average is $3.71. The firm has a market cap of $257.74 million, a PE ratio of -3.12 and a beta of 0.83.

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

Institutional Investors Weigh In On AirJoule Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in AIRJ. 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 buying an additional 137,337 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of AirJoule Technologies by 36.8% during the 1st quarter. Renaissance Technologies LLC now owns 393,200 shares of the company's stock valued at $987,000 after acquiring an additional 105,700 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of AirJoule Technologies during the 1st quarter worth about $482,000. Sei Investments Co. acquired a new stake in shares of AirJoule Technologies in the first quarter worth approximately $77,000. Finally, Bank of New York Mellon Corp boosted its position in shares of AirJoule Technologies by 23.4% in the first quarter. Bank of New York Mellon Corp now owns 65,113 shares of the company's stock worth $163,000 after acquiring an additional 12,362 shares during the last quarter. 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.

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