Montana Technologies Co. (NASDAQ:AIRJ) Short Interest Up 7.6% in October

Montana Technologies Co. (NASDAQ:AIRJ) was the target of a large increase in short interest in 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 daily trading volume, of 44,200 shares, the days-to-cover ratio is currently 5.3 days. Currently, 1.4% of the shares of the stock are short sold.

Montana Technologies Stock Performance

Shares of Montana Technologies stock opened at $7.38 on Monday. Montana Technologies has a twelve month low of $4.94 and a twelve month high of $49.11. The business has a 50-day moving average price of $6.08 and a 200-day moving average price of $8.87.

Montana Technologies (NASDAQ:AIRJ) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.24 earnings per share for the quarter.

Insider Buying and Selling at Montana Technologies

In related news, major shareholder John Yogi Spence bought 11,765 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average cost of $8.50 per share, with a total value of $100,002.50. Following the completion of the purchase, the insider now owns 61,666 shares of the company’s stock, valued at approximately $524,161. The trade was a 23.58 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 40.39% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kovitz Investment Group Partners LLC bought a new position in Montana Technologies during the third quarter valued at $508,000. K2 Principal Fund L.P. bought a new position in shares of Montana Technologies in the 1st quarter valued at about $948,000. HighTower Advisors LLC bought a new position in shares of Montana Technologies in the 3rd quarter valued at about $342,000. U.S. Capital Wealth Advisors LLC purchased a new position in Montana Technologies in the second quarter worth about $160,000. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 during the last quarter. 63.65% of the stock is owned by hedge funds and other institutional investors.

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.