AirJoule Technologies (NASDAQ:AIRJ) Trading Down 8.4% – What’s Next?

AirJoule Technologies Corporation (NASDAQ:AIRJ) was down 8.4% during trading on Tuesday . The stock traded as low as $5.26 and last traded at $5.32. 1,662,549 shares traded hands during mid-day trading, an increase of 63% from the average session volume of 1,019,743 shares. The stock had previously closed at $5.81.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AIRJ. B. Riley Financial boosted their price objective on AirJoule Technologies from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday. UBS Group set a $10.00 price target on shares of AirJoule Technologies in a report on Monday. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of AirJoule Technologies in a research report on Monday, May 18th. Seaport Research Partners began coverage on shares of AirJoule Technologies in a research note on Friday, May 8th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of AirJoule Technologies in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, AirJoule Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

AirJoule Technologies Price Performance

The stock has a market cap of $385.17 million, a P/E ratio of -4.09 and a beta of 0.86. The firm’s 50-day moving average price is $4.76 and its 200-day moving average price is $3.91.

AirJoule Technologies (NASDAQ:AIRJ) last issued its earnings results on Thursday, August 13th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). Sell-side analysts expect that AirJoule Technologies Corporation will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of AirJoule Technologies by 63.5% in the first quarter. Bank of America Corp DE now owns 25,779 shares of the company’s stock worth $65,000 after purchasing an additional 10,011 shares during the last quarter. Renaissance Technologies LLC boosted its stake in AirJoule Technologies by 36.8% during the first quarter. Renaissance Technologies LLC now owns 393,200 shares of the company’s stock valued at $987,000 after buying an additional 105,700 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in AirJoule Technologies during the 1st quarter valued at approximately $482,000. Sei Investments Co. bought a new stake in AirJoule Technologies in the 1st quarter worth approximately $77,000. Finally, Bank of New York Mellon Corp increased its stake in AirJoule Technologies by 23.4% in the 1st quarter. Bank of New York Mellon Corp now owns 65,113 shares of the company’s stock worth $163,000 after acquiring an additional 12,362 shares during the last quarter. Hedge funds and other institutional investors own 63.65% of the company’s stock.

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.