Montana Technologies (NASDAQ:AIRJ) Trading Up 2.8% – Still a Buy?

Shares of Montana Technologies Co. (NASDAQ:AIRJ) shot up 2.8% during trading on Monday . The company traded as high as $9.00 and last traded at $8.58. 121,762 shares changed hands during trading, an increase of 74% from the average session volume of 70,067 shares. The stock had previously closed at $8.35.

Montana Technologies Trading Up 0.1 %

The stock’s 50-day simple moving average is $6.73 and its 200 day simple moving average is $8.30.

Insider Activity at Montana Technologies

In other news, major shareholder John Yogi Spence bought 11,765 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was bought at an average price of $8.50 per share, with a total value of $100,002.50. Following the completion of the acquisition, the insider now owns 61,666 shares of the company’s stock, valued at $524,161. This represents a 23.58 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 40.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Montana Technologies

Hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in Montana Technologies in the 2nd quarter valued at $81,000. HighTower Advisors LLC bought a new position in shares of Montana Technologies in the third quarter worth $342,000. Charles Schwab Investment Management Inc. raised its stake in Montana Technologies by 14.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 69,733 shares of the company’s stock valued at $404,000 after purchasing an additional 8,714 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in Montana Technologies during the third quarter worth about $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 worth $1,086,000 after buying an additional 4,905 shares in the last quarter. 63.65% of the stock is owned by 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.