HC Wainwright Reiterates Buy Rating for Montana Technologies (NASDAQ:AIRJ)

Montana Technologies (NASDAQ:AIRJ)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $12.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 146.41% from the stock’s current price. HC Wainwright also issued estimates for Montana Technologies’ FY2029 earnings at $0.10 EPS.

Separately, Alliance Global Partners initiated coverage on Montana Technologies in a research report on Monday, February 24th. They set a “buy” rating and a $11.00 price objective for the company.

Montana Technologies Trading Down 2.8 %

Shares of Montana Technologies stock opened at $4.87 on Thursday. Montana Technologies has a 1 year low of $4.75 and a 1 year high of $21.78. The stock has a 50-day moving average price of $7.77 and a 200 day moving average price of $7.45. The company has a market cap of $271.96 million, a P/E ratio of 25.63 and a beta of 0.20.

Montana Technologies (NASDAQ:AIRJ) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). On average, equities analysts forecast that Montana Technologies will post 4.97 earnings per share for the current fiscal year.

Institutional Trading of Montana Technologies

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in shares of Montana Technologies during the 4th quarter valued at $811,000. Kovitz Investment Group Partners LLC acquired a new position in Montana Technologies during the third quarter worth $508,000. HighTower Advisors LLC bought a new position in Montana Technologies during the third quarter valued at about $342,000. Charles Schwab Investment Management Inc. lifted its position in shares of Montana Technologies by 72.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 120,219 shares of the company’s stock worth $958,000 after buying an additional 50,486 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Montana Technologies by 26.3% during the 4th quarter. Geode Capital Management LLC now owns 236,349 shares of the company’s stock worth $1,883,000 after acquiring an additional 49,244 shares in the last quarter. 63.65% of the stock is currently owned by institutional investors and hedge funds.

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.