Montana Technologies (NASDAQ:AIRJ) Shares Gap Down – What’s Next?

Montana Technologies Co. (NASDAQ:AIRJ)’s stock price gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

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

Montana Technologies Stock Down 1.3 %

The firm’s fifty day simple moving average is $8.65 and its two-hundred day simple moving average is $7.46.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AIRJ. Charles Schwab Investment Management Inc. lifted its stake in shares of Montana Technologies by 14.3% in the 3rd 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 during the last quarter. HighTower Advisors LLC purchased a new stake in Montana Technologies in the 3rd quarter valued at about $342,000. Kovitz Investment Group Partners LLC purchased a new stake in Montana Technologies in the 3rd quarter valued at about $508,000. Geode Capital Management LLC lifted its position 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 buying an additional 4,905 shares during the last quarter. Finally, Heritage Financial Services LLC purchased a new position in Montana Technologies during the fourth quarter worth about $99,000. 63.65% of the stock is currently 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.