Montana Technologies Co. (NASDAQ:AIRJ) CFO Stephen S. Pang Sells 7,635 Shares

Montana Technologies Co. (NASDAQ:AIRJ - Get Free Report) CFO Stephen S. Pang sold 7,635 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $4.23, for a total transaction of $32,296.05. Following the completion of the transaction, the chief financial officer now owns 15,490 shares in the company, valued at approximately $65,522.70. The trade was a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Montana Technologies Price Performance

Shares of AIRJ traded up $0.18 during trading hours on Wednesday, hitting $4.44. The company's stock had a trading volume of 121,904 shares, compared to its average volume of 73,650. The company has a market cap of $248.63 million, a price-to-earnings ratio of 6.08 and a beta of 0.35. The business has a 50 day simple moving average of $4.61 and a two-hundred day simple moving average of $6.83. Montana Technologies Co. has a 52-week low of $3.74 and a 52-week high of $13.50.

Montana Technologies (NASDAQ:AIRJ - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.04. Research analysts predict that Montana Technologies Co. will post 4.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its position in shares of Montana Technologies by 24.9% in the fourth quarter. Northern Trust Corp now owns 35,858 shares of the company's stock valued at $286,000 after acquiring an additional 7,150 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Montana Technologies in the 1st quarter valued at $46,000. Millennium Management LLC bought a new position in Montana Technologies in the 4th quarter valued at $85,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Montana Technologies during the 1st quarter valued at $50,000. Finally, Bank of America Corp DE increased its holdings in shares of Montana Technologies by 8,851.2% in the fourth quarter. Bank of America Corp DE now owns 11,189 shares of the company's stock worth $89,000 after purchasing an additional 11,064 shares during the period. Hedge funds and other institutional investors own 63.65% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AIRJ. Alliance Global Partners assumed coverage on Montana Technologies in a report on Monday, February 24th. They set a "buy" rating and a $11.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $12.00 price target on shares of Montana Technologies in a research report on Thursday, March 27th.

Montana Technologies Company Profile

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.