Montana Technologies Co. (NASDAQ:AIRJ) Short Interest Up 19.8% in December

Montana Technologies Co. (NASDAQ:AIRJ) saw a large 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 daily volume of 73,100 shares, the short-interest ratio is currently 3.8 days. Currently, 1.3% of the shares of the company are sold short.

Hedge Funds Weigh In On Montana Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC acquired a new stake in shares of Montana Technologies during the third quarter worth $508,000. HighTower Advisors LLC purchased a new position in Montana Technologies during the third quarter worth approximately $342,000. Charles Schwab Investment Management Inc. increased its holdings 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. Quarry LP purchased a new position in shares of Montana Technologies in the 2nd quarter worth $81,000. Finally, Geode Capital Management LLC grew its position in Montana Technologies by 2.7% during the third quarter. Geode Capital Management LLC now owns 187,105 shares of the company’s stock valued at $1,086,000 after acquiring an additional 4,905 shares during the period. 63.65% of the stock is currently owned by hedge funds and other institutional investors.

Montana Technologies Stock Performance

Shares of NASDAQ:AIRJ traded down $1.33 during trading on Monday, hitting $8.60. The company’s stock had a trading volume of 56,999 shares, compared to its average volume of 78,692. Montana Technologies has a fifty-two week low of $4.94 and a fifty-two week high of $49.11. The business has a 50 day moving average price of $7.71 and a two-hundred day moving average price of $7.99.

Analysts Set New Price Targets

Separately, HC Wainwright initiated coverage on shares of Montana Technologies in a research note on Friday, December 20th. They set a “buy” rating and a $12.00 price objective for the company.

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.