Montana Technologies (NASDAQ:AIRJ) Shares Up 2.8% – Should You Buy?

Montana Technologies Co. (NASDAQ:AIRJ)’s stock price shot up 2.8% during trading on Monday . The company traded as high as $9.00 and last traded at $8.58. 121,762 shares changed hands during mid-day trading, an increase of 74% from the average session volume of 70,067 shares. The stock had previously closed at $8.35.

Montana Technologies Price Performance

The stock’s 50-day moving average price is $6.67 and its 200 day moving average price is $8.34.

Insider Activity

In related news, major shareholder John Yogi Spence bought 11,765 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average price of $8.50 per share, with a total value of $100,002.50. Following the completion of the transaction, the insider now owns 61,666 shares of the company’s stock, valued at $524,161. The trade was a 23.58 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 40.39% of the company’s stock.

Hedge Funds Weigh In On Montana Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Montana Technologies during the second quarter worth $81,000. Charles Schwab Investment Management Inc. boosted 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 buying an additional 8,714 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Montana Technologies during the third quarter worth $342,000. Kovitz Investment Group Partners LLC acquired a new stake in Montana Technologies during the third quarter worth $508,000. Finally, Geode Capital Management LLC boosted its stake in Montana Technologies by 2.7% during the third quarter. Geode Capital Management LLC now owns 187,105 shares of the company’s stock worth $1,086,000 after buying an additional 4,905 shares in the last quarter. Institutional investors own 63.65% of the company’s stock.

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.