Montana Technologies (NASDAQ:AIRJ) Shares Gap Down – Here’s Why

Montana Technologies Co. (NASDAQ:AIRJ) shares gapped down before the market opened on Monday . The stock had previously closed at $8.47, but opened at $8.26. Montana Technologies shares last traded at $8.91, with a volume of 17,330 shares traded.

Analyst Ratings Changes

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

Montana Technologies Stock Performance

The stock’s 50 day simple moving average is $8.65 and its 200-day simple moving average is $7.46.

Institutional Investors Weigh In On Montana Technologies

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of Montana Technologies by 26.3% in the fourth quarter. Geode Capital Management LLC now owns 236,349 shares of the company’s stock worth $1,883,000 after acquiring an additional 49,244 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Montana Technologies by 72.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 120,219 shares of the company’s stock valued at $958,000 after purchasing an additional 50,486 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in Montana Technologies in the third quarter valued at $508,000. HighTower Advisors LLC acquired a new position in Montana Technologies during the 3rd quarter worth $342,000. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in Montana Technologies by 19.4% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 18,500 shares of the company’s stock worth $147,000 after purchasing an additional 3,000 shares during the period. 63.65% of the stock is owned by hedge funds and other institutional investors.

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.