Montana Technologies (NASDAQ:AIRJ) Trading 2.1% Higher – Here’s What Happened

Montana Technologies Co. (NASDAQ:AIRJ)’s stock price rose 2.1% during trading on Monday . The stock traded as high as $6.30 and last traded at $6.25. Approximately 25,136 shares traded hands during trading, a decline of 65% from the average daily volume of 72,387 shares. The stock had previously closed at $6.12.

Montana Technologies Price Performance

The firm has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $8.94.

Montana Technologies (NASDAQ:AIRJ) last announced its earnings results on Thursday, August 22nd. The company reported $0.24 earnings per share (EPS) for the quarter.

Insiders Place Their Bets

In other news, major shareholder John Yogi Spence purchased 11,765 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average price of $8.50 per share, for a total transaction of $100,002.50. Following the acquisition, the insider now directly owns 61,666 shares of the company’s stock, valued at approximately $524,161. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 40.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Montana Technologies by 14.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 69,733 shares of the company’s stock worth $404,000 after acquiring an additional 8,714 shares during the last quarter. Quarry LP purchased a new stake in Montana Technologies in the second quarter valued at approximately $81,000. U.S. Capital Wealth Advisors LLC acquired a new position in Montana Technologies during the second quarter worth $160,000. Finally, K2 Principal Fund L.P. purchased a new position in shares of Montana Technologies during the first quarter worth $948,000. Hedge funds and other institutional investors own 63.65% of the company’s stock.

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.