AirJoule Technologies (NASDAQ:AIRJ) Shares Down 1.3% – Should You Sell?

Shares of AirJoule Technologies Corporation (NASDAQ:AIRJ) dropped 1.3% during mid-day trading on Wednesday . The stock traded as low as $6.22 and last traded at $6.32. Approximately 1,387,375 shares changed hands during trading, an increase of 39% from the average session volume of 994,558 shares. The stock had previously closed at $6.40.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of AirJoule Technologies in a research note on Monday, May 18th. Weiss Ratings raised AirJoule Technologies from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. B. Riley Financial assumed coverage on AirJoule Technologies in a report on Thursday, April 30th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Seaport Research Partners started coverage on shares of AirJoule Technologies in a research note on Friday, May 8th. They set a “buy” rating and a $7.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, AirJoule Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $8.25.

AirJoule Technologies Stock Performance

The company has a market cap of $436.57 million, a price-to-earnings ratio of -5.30 and a beta of 0.86. The stock’s fifty day simple moving average is $4.71 and its two-hundred day simple moving average is $3.87.

AirJoule Technologies (NASDAQ:AIRJ) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). Analysts predict that AirJoule Technologies Corporation will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On AirJoule Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of AirJoule Technologies in the 2nd quarter worth about $31,000. Group One Trading LLC purchased a new stake in shares of AirJoule Technologies during the 2nd quarter worth about $42,000. Invesco Ltd. acquired a new stake in AirJoule Technologies during the 2nd quarter worth approximately $50,000. Bank of America Corp DE increased its position in AirJoule Technologies by 8,851.2% during the 4th quarter. Bank of America Corp DE now owns 11,189 shares of the company’s stock worth $89,000 after purchasing an additional 11,064 shares in the last quarter. Finally, Fagan Associates Inc. purchased a new position in AirJoule Technologies in the fourth quarter valued at approximately $46,000. 63.65% of the stock is currently owned by institutional investors and hedge funds.

About AirJoule 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.