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

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

Montana Technologies Stock Down 7.3 %

Shares of NASDAQ AIRJ traded down $0.39 during trading on Thursday, hitting $4.91. 150,612 shares of the company traded hands, compared to its average volume of 66,025. The firm has a market capitalization of $273.91 million, a P/E ratio of 25.82 and a beta of 0.20. The company has a 50-day moving average price of $7.92 and a 200-day moving average price of $7.47. Montana Technologies has a 1 year low of $4.82 and a 1 year high of $21.78.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Montana Technologies in a report on Thursday. Alliance Global Partners started coverage on Montana Technologies in a research report on Monday, February 24th. They set a “buy” rating and a $11.00 price objective 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 holdings in Montana Technologies Co. (NASDAQ:AIRJ) by 8,851.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,189 shares of the company’s stock after acquiring an additional 11,064 shares during the period. Bank of America Corp DE’s holdings in Montana Technologies were worth $89,000 as of its most recent SEC filing. 63.65% of the stock is 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.