Montana Technologies Co. (NASDAQ:AIRJ) Short Interest Update

Montana Technologies Co. (NASDAQ:AIRJ - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 722,500 shares, an increase of 20.8% from the March 15th total of 598,300 shares. Based on an average daily volume of 64,400 shares, the days-to-cover ratio is currently 11.2 days. Approximately 3.4% of the company's shares are sold short.

Montana Technologies Stock Performance

AIRJ stock traded down $0.23 during midday trading on Friday, reaching $4.77. The company's stock had a trading volume of 24,852 shares, compared to its average volume of 71,771. The firm has a market capitalization of $267.11 million, a price-to-earnings ratio of 25.11 and a beta of 0.51. Montana Technologies has a 1 year low of $4.25 and a 1 year high of $21.78. The stock has a fifty day simple moving average of $6.40 and a two-hundred day simple moving average of $7.29.

Montana Technologies (NASDAQ:AIRJ - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.16). As a group, analysts forecast that Montana Technologies will post 4.97 EPS for the current fiscal year.

Institutional Trading of Montana Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP purchased a new position in Montana Technologies during the 4th quarter worth $811,000. HighTower Advisors LLC purchased a new position in shares of Montana Technologies during the third quarter valued at $342,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Montana Technologies by 66.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 145,324 shares of the company's stock valued at $1,158,000 after acquiring an additional 57,824 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Montana Technologies by 72.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 120,219 shares of the company's stock worth $958,000 after acquiring an additional 50,486 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Montana Technologies by 26.3% during the 4th quarter. Geode Capital Management LLC now owns 236,349 shares of the company's stock worth $1,883,000 after acquiring an additional 49,244 shares in the last quarter. Institutional investors own 63.65% of the company's stock.

Analysts Set New Price Targets

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

About Montana 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.