AirJoule Technologies (NASDAQ:AIRJ) Shares Down 4.8% – Here’s Why

AirJoule Technologies Corporation (NASDAQ:AIRJ) shares traded down 4.8% on Friday . The company traded as low as $4.53 and last traded at $4.56. 990,959 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 1,032,434 shares. The stock had previously closed at $4.79.

Wall Street Analysts Forecast Growth

AIRJ has been the subject of several research analyst reports. UBS Group set a $10.00 price target on shares of AirJoule Technologies in a research note on Monday, August 17th. Seaport Research Partners started coverage on AirJoule Technologies in a research note on Friday, May 8th. They issued a “buy” rating and a $7.00 target price on the stock. B. Riley Financial upped their price target on AirJoule Technologies from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, August 17th. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of AirJoule Technologies in a research note on Monday, May 18th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of AirJoule Technologies in a report on Thursday, August 13th. One equities 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 company’s stock. According to data from MarketBeat.com, AirJoule Technologies has an average rating of “Moderate Buy” and an average target price of $9.50.

AirJoule Technologies Stock Performance

The stock’s 50 day moving average is $4.87 and its 200 day moving average is $4.01. The company has a market capitalization of $334.46 million, a PE ratio of -3.51 and a beta of 0.86.

AirJoule Technologies (NASDAQ:AIRJ) last issued its earnings results on Thursday, August 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). On average, equities research analysts forecast that AirJoule Technologies Corporation will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AIRJ. Goldman Sachs Group Inc. raised its position in shares of AirJoule Technologies by 16.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 24,113 shares of the company’s stock worth $95,000 after buying an additional 3,323 shares in the last quarter. Barclays PLC increased its stake in AirJoule Technologies by 11.1% in the 4th quarter. Barclays PLC now owns 37,506 shares of the company’s stock worth $148,000 after acquiring an additional 3,760 shares during the last quarter. Private Advisor Group LLC increased its stake in AirJoule Technologies by 15.7% in the 1st quarter. Private Advisor Group LLC now owns 29,500 shares of the company’s stock worth $74,000 after acquiring an additional 4,000 shares during the last quarter. Group One Trading LLC increased its stake in AirJoule Technologies by 45.6% in the 3rd quarter. Group One Trading LLC now owns 13,100 shares of the company’s stock worth $61,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of AirJoule Technologies in the 2nd quarter valued at about $31,000. Institutional investors own 63.65% of the company’s stock.

AirJoule 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.