Montana Technologies (NASDAQ:AIRJ) Releases Earnings Results, Misses Expectations By $0.16 EPS

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

Montana Technologies Trading Down 5.2 %

Shares of NASDAQ AIRJ traded down $0.28 during midday trading on Thursday, reaching $5.02. The company’s stock had a trading volume of 120,871 shares, compared to its average volume of 59,703. The company has a market cap of $280.05 million, a price-to-earnings ratio of 26.39 and a beta of 0.20. Montana Technologies has a one year low of $4.75 and a one year high of $21.78. The company has a 50 day moving average price of $7.92 and a 200 day moving average price of $7.47.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AIRJ shares. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Montana Technologies in a research report on Thursday. Alliance Global Partners initiated 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 for the company.

Institutional Investors Weigh In On Montana Technologies

An institutional investor recently raised its position in Montana Technologies stock. Bank of America Corp DE lifted its position in Montana Technologies Co. (NASDAQ:AIRJ) by 8,851.2% in the 4th quarter, according to the company in its most recent filing with the SEC. 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 filing with the SEC. 63.65% of the stock is currently owned by hedge funds and other institutional investors.

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.