AirJoule Technologies (NASDAQ:AIRJ) Trading Down 3.4% – Here’s What Happened

AirJoule Technologies Corporation (NASDAQ:AIRJ)’s stock price dropped 3.4% during trading on Tuesday . The company traded as low as $4.72 and last traded at $4.84. 1,702,636 shares traded hands during trading, an increase of 64% from the average session volume of 1,035,628 shares. The stock had previously closed at $5.01.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AIRJ shares. Seaport Research Partners assumed coverage on shares of AirJoule Technologies in a research note on Friday, May 8th. They issued a “buy” rating and a $7.00 target price for the company. Weiss Ratings restated a “sell (d)” rating on shares of AirJoule Technologies in a report on Thursday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of AirJoule Technologies in a research note on Monday, May 18th. B. Riley Financial boosted their target price on shares of AirJoule Technologies from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Finally, UBS Group set a $10.00 price objective on shares of AirJoule Technologies in a report on Monday, August 17th. One equities 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 data from MarketBeat.com, AirJoule Technologies has a consensus rating of “Moderate Buy” and an average price target of $9.50.

AirJoule Technologies Price Performance

The company has a market cap of $354.28 million, a price-to-earnings ratio of -3.72 and a beta of 0.86. The company’s 50-day moving average is $4.87 and its 200 day moving average is $4.00.

AirJoule Technologies (NASDAQ:AIRJ) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.04). Analysts predict that AirJoule Technologies Corporation will post -0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On AirJoule Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in AirJoule Technologies during the 2nd quarter worth about $31,000. Group One Trading LLC acquired a new stake in shares of AirJoule Technologies in the second quarter valued at about $42,000. Fagan Associates Inc. acquired a new stake in AirJoule Technologies in the 4th quarter valued at about $46,000. Abel Hall LLC acquired a new stake in shares of AirJoule Technologies during the fourth quarter valued at $46,000. Finally, Invesco Ltd. acquired a new position in AirJoule Technologies in the second quarter valued at $50,000. Hedge funds and other institutional investors 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.