AirJoule Technologies (NASDAQ:AIRJ) Trading Down 3.8% – Here’s Why

Shares of AirJoule Technologies Corporation (NASDAQ:AIRJ) traded down 3.8% during trading on Monday . The company traded as low as $5.77 and last traded at $5.81. 1,760,219 shares traded hands during mid-day trading, an increase of 73% from the average session volume of 1,017,038 shares. The stock had previously closed at $6.04.

Analysts Set New Price Targets

AIRJ has been the subject of a number of analyst reports. Seaport Research Partners assumed coverage on shares of AirJoule Technologies in a research report on Friday, May 8th. They issued a “buy” rating and a $7.00 target price for the company. Weiss Ratings reissued a “sell (d)” rating on shares of AirJoule Technologies in a research report on Thursday, August 13th. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of AirJoule Technologies in a research report on Monday, May 18th. B. Riley Financial increased their price objective on shares of AirJoule Technologies from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday. Finally, UBS Group set a $10.00 price objective on AirJoule Technologies in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

AirJoule Technologies Price Performance

The stock has a market capitalization of $385.17 million, a P/E ratio of -4.09 and a beta of 0.86. The stock’s 50-day simple moving average is $4.78 and its 200 day simple moving average is $3.92.

AirJoule Technologies (NASDAQ:AIRJ) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.04). As a group, analysts expect that AirJoule Technologies Corporation will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AirJoule Technologies

Several hedge funds have recently bought and sold shares of AIRJ. Bank of America Corp DE boosted its holdings in shares of AirJoule Technologies by 63.5% during the first quarter. Bank of America Corp DE now owns 25,779 shares of the company’s stock worth $65,000 after acquiring an additional 10,011 shares during the period. Renaissance Technologies LLC increased its stake in shares of AirJoule Technologies by 36.8% during the first quarter. Renaissance Technologies LLC now owns 393,200 shares of the company’s stock worth $987,000 after purchasing an additional 105,700 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of AirJoule Technologies during the first quarter worth approximately $482,000. Sei Investments Co. acquired a new stake in AirJoule Technologies during the 1st quarter worth approximately $77,000. Finally, Bank of New York Mellon Corp lifted its holdings in AirJoule Technologies by 23.4% during the 1st quarter. Bank of New York Mellon Corp now owns 65,113 shares of the company’s stock worth $163,000 after purchasing an additional 12,362 shares during the last quarter. 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.