Montana Technologies (NASDAQ:AIRJ) Releases Earnings Results, Misses Estimates By $0.16 EPS

Montana Technologies (NASDAQ:AIRJ) released its earnings results on Tuesday. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.16), Zacks reports.

Montana Technologies Trading Down 5.2 %

AIRJ traded down $0.28 during trading on Thursday, hitting $5.02. 120,871 shares of the company’s stock were exchanged, compared to its average volume of 59,703. The stock has a 50 day moving average price of $7.92 and a 200 day moving average price of $7.47. Montana Technologies has a 1 year low of $4.75 and a 1 year high of $21.78. The firm has a market cap of $280.05 million, a P/E ratio of 26.39 and a beta of 0.20.

Analyst Ratings Changes

A number of equities analysts have weighed in on AIRJ shares. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Montana Technologies in a report on Thursday. 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 price target for the company.

Institutional Trading of Montana Technologies

A hedge fund recently raised its stake in Montana Technologies stock. Bank of America Corp DE increased its stake in shares of Montana Technologies Co. (NASDAQ:AIRJ) by 8,851.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 11,189 shares of the company’s stock after acquiring 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. 63.65% of the stock is owned by hedge funds and other institutional investors.

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.