Montana Technologies (NASDAQ:AIRJ) Given “Buy” Rating at HC Wainwright

Montana Technologies (NASDAQ:AIRJ)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 146.41% from the company’s current price. HC Wainwright also issued estimates for Montana Technologies’ FY2029 earnings at $0.10 EPS.

Separately, Alliance Global Partners assumed coverage on shares of Montana Technologies in a research report on Monday, February 24th. They set a “buy” rating and a $11.00 target price on the stock.

Montana Technologies Price Performance

AIRJ stock opened at $4.87 on Thursday. The stock has a market capitalization of $271.96 million, a price-to-earnings ratio of 25.63 and a beta of 0.20. The company has a 50-day moving average of $7.77 and a two-hundred day moving average of $7.45. Montana Technologies has a 52-week low of $4.75 and a 52-week high of $21.78.

Montana Technologies (NASDAQ:AIRJ) last released its earnings results on Tuesday, March 25th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). Equities analysts expect that Montana Technologies will post 4.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Montana Technologies

Several large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in shares of Montana Technologies during the 4th quarter worth approximately $811,000. Kovitz Investment Group Partners LLC bought a new position in Montana Technologies in the third quarter worth $508,000. HighTower Advisors LLC acquired a new stake in Montana Technologies during the third quarter worth $342,000. Charles Schwab Investment Management Inc. increased its holdings in Montana Technologies by 72.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 120,219 shares of the company’s stock valued at $958,000 after buying an additional 50,486 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Montana Technologies by 26.3% in the 4th quarter. Geode Capital Management LLC now owns 236,349 shares of the company’s stock valued at $1,883,000 after buying an additional 49,244 shares during the period. Institutional investors and hedge funds own 63.65% of the company’s stock.

About Montana 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.