Montana Technologies (NASDAQ:AIRJ) Stock Price Down 11.1% – Here’s Why

Shares of Montana Technologies Co. (NASDAQ:AIRJ) traded down 11.1% during mid-day trading on Tuesday . The company traded as low as $9.81 and last traded at $10.06. 99,266 shares changed hands during mid-day trading, an increase of 37% from the average session volume of 72,376 shares. The stock had previously closed at $11.32.

Montana Technologies Price Performance

The company’s 50 day simple moving average is $7.28 and its 200 day simple moving average is $8.10.

Institutional Investors Weigh In On Montana Technologies

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Montana Technologies during the second quarter worth $81,000. HighTower Advisors LLC purchased a new stake in Montana Technologies during the 3rd quarter worth about $342,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Montana Technologies by 14.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 69,733 shares of the company’s stock worth $404,000 after buying an additional 8,714 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Montana Technologies in the third quarter valued at approximately $508,000. Finally, Geode Capital Management LLC grew its stake in Montana Technologies by 2.7% during the third quarter. Geode Capital Management LLC now owns 187,105 shares of the company’s stock valued at $1,086,000 after acquiring an additional 4,905 shares in 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.