Montana Technologies (NASDAQ:AIRJ) Announces Quarterly Earnings Results

Montana Technologies (NASDAQ:AIRJ) released its quarterly earnings results on Monday. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04, Zacks reports.

Montana Technologies Stock Performance

NASDAQ:AIRJ opened at $4.55 on Wednesday. Montana Technologies has a one year low of $4.24 and a one year high of $21.78. The business’s 50-day simple moving average is $5.61 and its 200 day simple moving average is $7.18. The stock has a market cap of $254.79 million, a price-to-earnings ratio of 23.95 and a beta of 0.49.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Montana Technologies stock. Bank of America Corp DE increased its holdings in Montana Technologies Co. (NASDAQ:AIRJ) by 8,851.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,189 shares of the company’s stock after acquiring an additional 11,064 shares during the quarter. Bank of America Corp DE’s holdings in Montana Technologies were worth $89,000 as of its most recent filing with the SEC. Institutional investors own 63.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AIRJ. Alliance Global Partners began coverage on Montana Technologies in a research report on Monday, February 24th. They issued a “buy” rating and a $11.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Montana Technologies in a research note on Thursday, March 27th.

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.