Short Interest in Montana Technologies Co. (NASDAQ:AIRJ) Increases By 19.8%

Montana Technologies Co. (NASDAQ:AIRJ) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 281,100 shares, a growth of 19.8% from the November 30th total of 234,600 shares. Based on an average trading volume of 73,100 shares, the short-interest ratio is currently 3.8 days. Approximately 1.3% of the shares of the stock are sold short.

Institutional Trading of Montana Technologies

A number of institutional investors have recently bought and sold shares of AIRJ. Quarry LP acquired a new position in Montana Technologies in the second quarter valued at about $81,000. HighTower Advisors LLC acquired a new position in shares of Montana Technologies in the third quarter valued at approximately $342,000. Charles Schwab Investment Management Inc. increased its position in shares of Montana Technologies by 14.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 69,733 shares of the company’s stock worth $404,000 after acquiring an additional 8,714 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Montana Technologies in the 3rd quarter worth $508,000. Finally, Geode Capital Management LLC raised its stake in shares of Montana Technologies by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 187,105 shares of the company’s stock valued at $1,086,000 after purchasing an additional 4,905 shares during the period. Institutional investors and hedge funds own 63.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright began coverage on Montana Technologies in a report on Friday, December 20th. They set a “buy” rating and a $12.00 target price for the company.

Montana Technologies Price Performance

Shares of NASDAQ AIRJ traded down $1.33 during mid-day trading on Monday, reaching $8.60. The company had a trading volume of 56,999 shares, compared to its average volume of 78,692. The stock has a fifty day moving average of $7.71 and a two-hundred day moving average of $7.99. Montana Technologies has a 12-month low of $4.94 and a 12-month high of $49.11.

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.