Short Interest in Montana Technologies Co. (NASDAQ:AIRJ) Rises By 109.5%

Montana Technologies Co. (NASDAQ:AIRJ) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 589,000 shares, a growth of 109.5% from the December 15th total of 281,100 shares. Approximately 2.8% of the company’s shares are short sold. Based on an average daily volume of 83,000 shares, the short-interest ratio is currently 7.1 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AIRJ. Quarry LP acquired a new position in shares of Montana Technologies in the second quarter worth $81,000. Charles Schwab Investment Management Inc. grew 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. HighTower Advisors LLC acquired a new position in Montana Technologies in the 3rd quarter worth about $342,000. Kovitz Investment Group Partners LLC acquired a new position in Montana Technologies in the 3rd quarter worth about $508,000. Finally, Geode Capital Management LLC raised its stake in shares of Montana Technologies by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 187,105 shares of the company’s stock worth $1,086,000 after purchasing an additional 4,905 shares in the last quarter. Institutional investors and hedge funds own 63.65% of the company’s stock.

Montana Technologies Stock Up 1.1 %

NASDAQ:AIRJ opened at $7.96 on Wednesday. Montana Technologies has a fifty-two week low of $4.94 and a fifty-two week high of $49.11. The stock’s 50-day moving average is $8.17 and its two-hundred day moving average is $7.80.

Wall Street Analyst Weigh In

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