AirJoule Technologies (NASDAQ:AIRJ) Stock Price Down 3.8% - Here's What Happened

Key Points

• AirJoule Technologies shares fell 3.8% to $4.36 in mid-day trading, with volume rising 20% above its average.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $9.50, despite ratings ranging from Sell to Strong Buy.
• The company reported a quarterly loss of $0.12 per share, missing the $0.08 loss estimate; institutional investors own 63.65% of the stock.

Shares of AirJoule Technologies Corporation (NASDAQ:AIRJ - Get Free Report) were down 3.8% during mid-day trading on Tuesday . The company traded as low as $4.36 and last traded at $4.36. Approximately 1,240,360 shares were traded during trading, an increase of 20% from the average daily volume of 1,033,680 shares. The stock had previously closed at $4.53.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $12.00 price target on shares of AirJoule Technologies in a report on Monday, May 18th. Needham & Company LLC began coverage on AirJoule Technologies in a report on Monday. They set a "hold" rating for the company. UBS Group set a $10.00 target price on AirJoule Technologies in a research report on Monday, August 17th. B. Riley Financial upped their target price on AirJoule Technologies from $6.00 to $8.00 and gave the company a "buy" rating in a report on Monday, August 17th. Finally, Seaport Research Partners began coverage on AirJoule Technologies in a research report on Friday, May 8th. They issued a "buy" rating and a $7.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AirJoule Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $9.50.

AirJoule Technologies Price Performance

The firm's 50-day moving average price is $4.86 and its 200 day moving average price is $4.03. The firm has a market capitalization of $319.81 million, a price-to-earnings ratio of -3.35 and a beta of 0.86.

AirJoule Technologies (NASDAQ:AIRJ - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.04). On average, analysts predict that AirJoule Technologies Corporation will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of AirJoule Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in AirJoule Technologies by 8,851.2% in the 4th quarter. Bank of America Corp DE now owns 11,189 shares of the company's stock valued at $89,000 after purchasing an additional 11,064 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of AirJoule Technologies by 46.4% during the first quarter. Goldman Sachs Group Inc. now owns 85,150 shares of the company's stock worth $393,000 after buying an additional 26,995 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of AirJoule Technologies by 103.2% during the first quarter. Jane Street Group LLC now owns 29,956 shares of the company's stock worth $138,000 after buying an additional 15,212 shares in the last quarter. Geode Capital Management LLC raised its position in shares of AirJoule Technologies by 111.1% in the second quarter. Geode Capital Management LLC now owns 517,203 shares of the company's stock valued at $2,395,000 after buying an additional 272,253 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of AirJoule Technologies in the second quarter valued at approximately $441,000. 63.65% of the stock is currently owned by hedge funds and other institutional investors.

AirJoule 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.

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