Montana Technologies (NASDAQ:AIRJ) Shares Gap Down – Here’s What Happened

Montana Technologies Co. (NASDAQ:AIRJ) shares gapped down before the market opened on Monday . The stock had previously closed at $9.50, but opened at $9.29. Montana Technologies shares last traded at $9.67, with a volume of 3,949 shares.

Analysts Set New Price Targets

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

Montana Technologies Price Performance

The company has a 50-day simple moving average of $7.50 and a 200-day simple moving average of $7.99.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Montana Technologies in the second quarter worth about $81,000. HighTower Advisors LLC acquired a new stake in shares of Montana Technologies in the third quarter valued at approximately $342,000. Charles Schwab Investment Management Inc. raised its position in Montana Technologies by 14.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 69,733 shares of the company’s stock worth $404,000 after purchasing an additional 8,714 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Montana Technologies during the 3rd quarter worth $508,000. Finally, Geode Capital Management LLC lifted its stake in shares of Montana Technologies by 2.7% during the third quarter. Geode Capital Management LLC now owns 187,105 shares of the company’s stock valued at $1,086,000 after acquiring an additional 4,905 shares during the period. Institutional investors and hedge funds own 63.65% of the company’s 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.