Montana Technologies (NASDAQ:AIRJ) Announces Earnings Results, Misses Estimates By $0.16 EPS

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

Montana Technologies Trading Down 6.3 %

Shares of NASDAQ AIRJ traded down $0.34 during trading hours on Thursday, reaching $4.96. The stock had a trading volume of 130,902 shares, compared to its average volume of 65,954. Montana Technologies has a 52-week low of $4.82 and a 52-week high of $21.78. The business’s fifty day moving average price is $7.92 and its two-hundred day moving average price is $7.47. The firm has a market cap of $276.70 million, a price-to-earnings ratio of 26.08 and a beta of 0.20.

Wall Street Analysts Forecast Growth

AIRJ has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Montana Technologies in a research report on Thursday. Alliance Global Partners began coverage on shares of Montana Technologies in a research note on Monday, February 24th. They set a “buy” rating and a $11.00 target price on the stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Montana Technologies stock. Bank of America Corp DE grew its stake in shares of Montana Technologies Co. (NASDAQ:AIRJ) by 8,851.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,189 shares of the company’s stock after acquiring an additional 11,064 shares during the quarter. Bank of America Corp DE’s holdings in Montana Technologies were worth $89,000 as of its most recent SEC filing. 63.65% of the stock is currently owned by institutional investors and hedge funds.

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.