HC Wainwright Reiterates Buy Rating for Montana Technologies (NASDAQ:AIRJ)

HC Wainwright reaffirmed their buy rating on shares of Montana Technologies (NASDAQ:AIRJ) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $12.00 price objective on the stock. HC Wainwright also issued estimates for Montana Technologies’ FY2029 earnings at $0.10 EPS.

Separately, Alliance Global Partners began coverage on Montana Technologies in a research note on Monday, February 24th. They issued a “buy” rating and a $11.00 target price on the stock.

Montana Technologies Stock Performance

NASDAQ:AIRJ opened at $4.87 on Thursday. The firm has a 50-day simple moving average of $7.77 and a 200-day simple moving average of $7.46. Montana Technologies has a one year low of $4.75 and a one year high of $21.78. The firm has a market cap of $271.96 million, a P/E ratio of 25.63 and a beta of 0.20.

Montana Technologies (NASDAQ:AIRJ) last announced its earnings results on Tuesday, March 25th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.16). On average, research analysts predict that Montana Technologies will post 4.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Montana Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC purchased a new position in Montana Technologies during the 4th quarter worth $85,000. Bank of America Corp DE boosted its holdings in 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 acquiring an additional 11,064 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Montana Technologies during the fourth quarter worth about $117,000. Northern Trust Corp increased its holdings in shares of Montana Technologies by 24.9% during 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 in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in shares of Montana Technologies by 66.1% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 145,324 shares of the company’s stock valued at $1,158,000 after purchasing an additional 57,824 shares during the last quarter. 63.65% of the stock is owned by hedge funds and other institutional investors.

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.