Montana Technologies (NASDAQ:AIRJ) Shares Gap Down – Should You Sell?

Shares of Montana Technologies Co. (NASDAQ:AIRJ) gapped down prior to trading on Monday . The stock had previously closed at $9.50, but opened at $9.29. Montana Technologies shares last traded at $9.67, with a volume of 3,949 shares.

Wall Street Analyst Weigh In

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

Montana Technologies Trading Up 2.4 %

The company’s 50-day simple moving average is $7.50 and its 200 day simple moving average is $7.99.

Hedge Funds Weigh In On Montana Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Montana Technologies by 2.7% in the third quarter. Geode Capital Management LLC now owns 187,105 shares of the company’s stock worth $1,086,000 after purchasing an additional 4,905 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of Montana Technologies in the third quarter worth $508,000. Charles Schwab Investment Management Inc. raised its stake 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 valued at $404,000 after purchasing an additional 8,714 shares during the last quarter. HighTower Advisors LLC bought a new stake in Montana Technologies in the 3rd quarter valued at $342,000. Finally, Quarry LP bought a new position in shares of Montana Technologies during the 2nd quarter worth about $81,000. Institutional investors and hedge funds own 63.65% of the company’s stock.

Montana Technologies Company Profile

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.