Short Interest in Montana Technologies Co. (NASDAQ:AIRJ) Expands By 109.5%

Montana Technologies Co. (NASDAQ:AIRJ) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 589,000 shares, an increase of 109.5% from the December 31st total of 281,100 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 83,000 shares, the days-to-cover ratio is presently 7.1 days.

Montana Technologies Stock Up 1.3 %

Shares of Montana Technologies stock opened at $7.70 on Wednesday. The business has a fifty day simple moving average of $8.56 and a two-hundred day simple moving average of $7.62. Montana Technologies has a 1 year low of $4.94 and a 1 year high of $49.11.

Institutional Investors Weigh In On Montana Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC bought a new position in Montana Technologies during the 3rd quarter worth $508,000. HighTower Advisors LLC bought a new position in Montana Technologies during the 3rd quarter worth $342,000. Heritage Financial Services LLC bought a new position in Montana Technologies during the 4th quarter worth $99,000. Charles Schwab Investment Management Inc. increased its position in 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 period. Finally, Quarry LP bought a new position in Montana Technologies during the 2nd quarter worth $81,000. Institutional investors and hedge funds own 63.65% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright assumed coverage on Montana Technologies in a report on Friday, December 20th. They issued a “buy” rating and a $12.00 price objective for the company.

About Montana 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.