AirJoule Technologies (NASDAQ:AIRJ) Stock Price Down 4.4% Following Weak Earnings

Shares of AirJoule Technologies Corporation (NASDAQ:AIRJ) fell 4.4% on Friday following a dissappointing earnings announcement. The stock traded as low as $5.49 and last traded at $6.04. 2,790,794 shares traded hands during mid-day trading, an increase of 176% from the average daily volume of 1,010,958 shares. The stock had previously closed at $6.32.

The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04).

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership bought a new position in AirJoule Technologies in the 1st quarter valued at about $482,000. Corient Private Wealth LLC boosted its stake in AirJoule Technologies by 8.3% during the 4th quarter. Corient Private Wealth LLC now owns 1,788,563 shares of the company’s stock valued at $7,047,000 after purchasing an additional 137,337 shares during the last quarter. Renaissance Technologies LLC increased its holdings in AirJoule Technologies by 36.8% during the 1st quarter. Renaissance Technologies LLC now owns 393,200 shares of the company’s stock worth $987,000 after purchasing an additional 105,700 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of AirJoule Technologies in the first quarter worth approximately $77,000. Finally, Bank of New York Mellon Corp raised its stake in shares of AirJoule Technologies by 23.4% in the first quarter. Bank of New York Mellon Corp now owns 65,113 shares of the company’s stock worth $163,000 after purchasing an additional 12,362 shares during the last quarter. 63.65% of the stock is owned by institutional investors.

AirJoule Technologies Price Performance

The stock has a fifty day moving average price of $4.71 and a two-hundred day moving average price of $3.87. The company has a market cap of $437.30 million, a P/E ratio of -5.30 and a beta of 0.86.

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.