AirJoule Technologies (NASDAQ:AIRJ) Shares Down 4.2% – Here’s Why

Shares of AirJoule Technologies Corporation (NASDAQ:AIRJ) were down 4.2% during trading on Thursday . The stock traded as low as $4.98 and last traded at $5.04. Approximately 1,624,930 shares traded hands during trading, an increase of 58% from the average session volume of 1,029,340 shares. The stock had previously closed at $5.26.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AIRJ shares. UBS Group set a $10.00 price objective on shares of AirJoule Technologies in a research report on Monday. Seaport Research Partners assumed coverage on shares of AirJoule Technologies in a research report on Friday, May 8th. They set 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 research note on Thursday, August 13th. B. Riley Financial lifted their price target on shares of AirJoule Technologies from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of AirJoule Technologies in a research report on Monday, May 18th. One equities research 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 data from MarketBeat.com, AirJoule Technologies currently has an average rating of “Moderate Buy” and an average price target of $9.50.

AirJoule Technologies Price Performance

The firm has a market cap of $364.90 million, a price-to-earnings ratio of -3.88 and a beta of 0.86. The firm has a fifty day simple moving average of $4.80 and a two-hundred day simple moving average of $3.93.

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

Institutional Investors Weigh In On AirJoule Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC grew its holdings in shares of AirJoule Technologies by 8.3% during the fourth quarter. Corient Private Wealth LLC now owns 1,788,563 shares of the company’s stock valued at $7,047,000 after buying an additional 137,337 shares during the last quarter. Vanguard Group Inc. raised its stake in AirJoule Technologies by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,162,542 shares of the company’s stock worth $5,452,000 after acquiring an additional 73,661 shares during the last quarter. Geode Capital Management LLC lifted its position in AirJoule Technologies by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 584,590 shares of the company’s stock worth $2,304,000 after acquiring an additional 27,648 shares during the period. Vident Advisory LLC acquired a new stake in AirJoule Technologies during the 4th quarter worth about $1,849,000. Finally, State Street Corp lifted its position in AirJoule Technologies by 45.1% during the 4th quarter. State Street Corp now owns 416,263 shares of the company’s stock worth $1,640,000 after acquiring an additional 129,418 shares during the period. 63.65% of the stock is currently owned by institutional investors and hedge funds.

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.