AirJoule Technologies (NASDAQ:AIRJ) Stock Price Down 1.3% – Here’s Why

Shares of AirJoule Technologies Corporation (NASDAQ:AIRJ) traded down 1.3% during trading on Wednesday . The company traded as low as $6.22 and last traded at $6.32. Approximately 1,387,375 shares changed hands during trading, an increase of 39% from the average daily volume of 994,558 shares. The stock had previously closed at $6.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of AirJoule Technologies in a research note on Monday, May 18th. B. Riley Financial assumed coverage on shares of AirJoule Technologies in a research report on Thursday, April 30th. They set a “buy” rating and a $6.00 target price for the company. Weiss Ratings raised shares of AirJoule Technologies from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. Finally, Seaport Research Partners started coverage on shares of AirJoule Technologies in a research report on Friday, May 8th. They issued a “buy” rating and a $7.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.25.

AirJoule Technologies Stock Down 1.3%

The firm’s 50 day moving average price is $4.68 and its two-hundred day moving average price is $3.83. The firm has a market capitalization of $457.57 million, a PE ratio of -5.54 and a beta of 0.86.

AirJoule Technologies (NASDAQ:AIRJ) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.68). On average, sell-side analysts anticipate that AirJoule Technologies Corporation will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AirJoule Technologies

A number of hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of AirJoule Technologies in the second quarter worth $31,000. Group One Trading LLC bought a new position in AirJoule Technologies during the 2nd quarter valued at $42,000. Invesco Ltd. bought a new position in AirJoule Technologies during the 2nd quarter valued at $50,000. Bank of America Corp DE grew its holdings in AirJoule Technologies by 8,851.2% during the 4th quarter. Bank of America Corp DE now owns 11,189 shares of the company’s stock worth $89,000 after acquiring an additional 11,064 shares in the last quarter. Finally, Fagan Associates Inc. acquired a new position in AirJoule Technologies during the 4th quarter worth $46,000. Institutional investors and hedge funds own 63.65% of the company’s stock.

About AirJoule 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.