Montana Technologies (NASDAQ:AIRJ) Announces Quarterly Earnings Results

Montana Technologies (NASDAQ:AIRJ - Get Free Report) posted its earnings results on Monday. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.04, Zacks reports.

Montana Technologies Stock Down 0.7%

Shares of AIRJ traded down $0.03 on Thursday, hitting $4.50. 139,750 shares of the stock traded hands, compared to its average volume of 73,483. Montana Technologies has a 1 year low of $4.24 and a 1 year high of $21.78. The stock's 50 day moving average is $5.55 and its two-hundred day moving average is $7.17. The firm has a market capitalization of $251.99 million, a P/E ratio of 23.68 and a beta of 0.49.

Institutional Trading of Montana Technologies

A hedge fund recently raised its stake in Montana Technologies stock. Bank of America Corp DE boosted its stake in shares of Montana Technologies Co. (NASDAQ:AIRJ - Free Report) by 8,851.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,189 shares of the company's stock after purchasing an additional 11,064 shares during the period. Bank of America Corp DE's holdings in Montana Technologies were worth $89,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 63.65% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on AIRJ shares. Alliance Global Partners started coverage on shares of Montana Technologies in a research report on Monday, February 24th. They issued a "buy" rating and a $11.00 price target on the stock. HC Wainwright reissued 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.