Montana Technologies Co. (NASDAQ:AIRJ) Sees Significant Growth in Short Interest

Montana Technologies Co. (NASDAQ:AIRJ) saw a significant 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. Approximately 3.4% of the company’s shares are sold short. Based on an average trading volume of 64,400 shares, the days-to-cover ratio is currently 11.2 days.

Montana Technologies Stock Performance

Montana Technologies stock opened at $4.92 on Tuesday. The stock has a market capitalization of $275.51 million, a price-to-earnings ratio of 25.89 and a beta of 0.51. Montana Technologies has a 52-week low of $4.25 and a 52-week high of $21.78. The stock’s 50 day moving average price is $6.58 and its two-hundred day moving average price is $7.32.

Montana Technologies (NASDAQ:AIRJ) last announced its quarterly 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, equities research analysts forecast that Montana Technologies will post 4.97 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AIRJ shares. Alliance Global Partners initiated coverage on shares of Montana Technologies in a report on Monday, February 24th. They set a “buy” rating and a $11.00 price target 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.

Institutional Investors Weigh In On Montana Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in AIRJ. Millennium Management LLC bought a new stake in shares of Montana Technologies during the 4th quarter worth $85,000. Bank of America Corp DE grew its position in Montana Technologies by 8,851.2% during the fourth quarter. Bank of America Corp DE now owns 11,189 shares of the company’s stock worth $89,000 after buying an additional 11,064 shares in the last quarter. Heritage Financial Services LLC bought a new position in shares of Montana Technologies in the fourth quarter worth approximately $99,000. Jane Street Group LLC bought a new position in shares of Montana Technologies in the 4th quarter worth $117,000. Finally, U.S. Capital Wealth Advisors LLC raised its position in Montana Technologies by 19.4% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 18,500 shares of the company’s stock valued at $147,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 63.65% of the company’s stock.

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.