Short Interest in Montana Technologies Co. (NASDAQ:AIRJ) Rises By 7.6%

Montana Technologies Co. (NASDAQ:AIRJ) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 232,700 shares, an increase of 7.6% from the October 15th total of 216,200 shares. Based on an average trading volume of 44,200 shares, the days-to-cover ratio is presently 5.3 days. Currently, 1.4% of the shares of the company are short sold.

Insider Transactions at Montana Technologies

In other Montana Technologies news, major shareholder John Yogi Spence purchased 11,765 shares of Montana Technologies stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of $8.50 per share, with a total value of $100,002.50. Following the acquisition, the insider now directly owns 61,666 shares of the company’s stock, valued at $524,161. This represents a 23.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 40.39% of the company’s stock.

Institutional Investors Weigh In On Montana Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kovitz Investment Group Partners LLC purchased a new position in Montana Technologies in the 3rd quarter valued at approximately $508,000. K2 Principal Fund L.P. acquired a new stake in Montana Technologies in the first quarter valued at $948,000. HighTower Advisors LLC purchased a new position in shares of Montana Technologies in the third quarter valued at $342,000. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Montana Technologies during the 2nd quarter worth $160,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Montana Technologies by 14.3% during 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 last quarter. 63.65% of the stock is currently owned by institutional investors and hedge funds.

Montana Technologies Price Performance

Montana Technologies stock opened at $7.38 on Friday. Montana Technologies has a one year low of $4.94 and a one year high of $49.11. The business has a fifty day moving average of $6.08 and a two-hundred day moving average of $8.89.

Montana Technologies (NASDAQ:AIRJ) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.24 EPS for the quarter.

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.