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

Montana Technologies Co. (NASDAQ:AIRJ) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 589,000 shares, an increase of 109.5% from the December 31st total of 281,100 shares. Based on an average daily trading volume, of 83,000 shares, the short-interest ratio is presently 7.1 days. Currently, 2.8% of the company’s shares are sold short.

Institutional Investors Weigh In On Montana Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Montana Technologies by 2.7% in 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 during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Montana Technologies in the 3rd quarter valued at $508,000. Charles Schwab Investment Management Inc. increased its position in shares of Montana Technologies by 14.3% during 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 during the period. HighTower Advisors LLC bought a new position in Montana Technologies during the third quarter worth $342,000. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in Montana Technologies by 19.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 18,500 shares of the company’s stock valued at $147,000 after buying an additional 3,000 shares during the period. Institutional investors and hedge funds own 63.65% of the company’s stock.

Montana Technologies Stock Up 4.2 %

Shares of NASDAQ:AIRJ opened at $8.10 on Friday. Montana Technologies has a 12-month low of $4.94 and a 12-month high of $49.11. The business has a fifty day simple moving average of $8.57 and a 200 day simple moving average of $7.62.

Wall Street Analyst Weigh In

Separately, HC Wainwright started coverage on shares of Montana Technologies in a research report on Friday, December 20th. They issued a “buy” rating and a $12.00 price target for the company.

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.