Montana Technologies (NASDAQ:AIRJ) Issues Quarterly Earnings Results, Misses Expectations By $0.16 EPS

Montana Technologies (NASDAQ:AIRJ) posted its quarterly earnings data on Tuesday. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16), Zacks reports.

Montana Technologies Trading Down 6.3 %

AIRJ stock traded down $0.34 on Thursday, hitting $4.96. The company’s stock had a trading volume of 130,902 shares, compared to its average volume of 65,954. Montana Technologies has a 1 year low of $4.82 and a 1 year high of $21.78. The firm has a 50 day moving average of $7.92 and a two-hundred day moving average of $7.47. The stock has a market cap of $276.70 million, a price-to-earnings ratio of 26.08 and a beta of 0.20.

Analysts Set New Price Targets

Several research firms have recently commented on AIRJ. Alliance Global Partners started coverage on shares of Montana Technologies in a research report on Monday, February 24th. They set a “buy” rating and a $11.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Montana Technologies in a research report on Thursday.

Institutional Trading of Montana Technologies

A hedge fund recently raised its stake in Montana Technologies stock. Bank of America Corp DE boosted its position in Montana Technologies Co. (NASDAQ:AIRJ) by 8,851.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,189 shares of the company’s stock after purchasing an additional 11,064 shares during the period. Bank of America Corp DE’s holdings in Montana Technologies were worth $89,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 63.65% of the company’s stock.

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.