Montana Technologies (NASDAQ:AIRJ) Shares Gap Up – Should You Buy?

Montana Technologies Co. (NASDAQ:AIRJ)’s share price gapped up prior to trading on Monday . The stock had previously closed at $8.43, but opened at $8.97. Montana Technologies shares last traded at $9.10, with a volume of 9,566 shares traded.

Wall Street Analysts Forecast Growth

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

Montana Technologies Price Performance

The company has a 50-day simple moving average of $7.99 and a 200 day simple moving average of $7.89.

Hedge Funds Weigh In On Montana Technologies

Institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Montana Technologies in the second quarter valued at approximately $81,000. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $404,000 after buying an additional 8,714 shares during the period. HighTower Advisors LLC bought a new position in shares of Montana Technologies during the 3rd quarter worth $342,000. Kovitz Investment Group Partners LLC bought a new position in shares of Montana Technologies during the 3rd quarter worth $508,000. Finally, Geode Capital Management LLC increased 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 buying an additional 4,905 shares during the period. 63.65% of the stock is 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.