Montana Technologies Co. (NASDAQ:AIRJ) Short Interest Up 19.8% in December

Montana Technologies Co. (NASDAQ:AIRJ) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 281,100 shares, an increase of 19.8% from the November 30th total of 234,600 shares. Based on an average trading volume of 73,100 shares, the days-to-cover ratio is presently 3.8 days. Currently, 1.3% of the shares of the stock are short sold.

Montana Technologies Stock Performance

Shares of NASDAQ:AIRJ traded up $1.23 on Friday, reaching $9.93. The company’s stock had a trading volume of 164,976 shares, compared to its average volume of 78,798. The company has a 50-day simple moving average of $7.71 and a 200 day simple moving average of $8.00. Montana Technologies has a 52-week low of $4.94 and a 52-week high of $49.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Montana Technologies by 2.7% during the third quarter. Geode Capital Management LLC now owns 187,105 shares of the company’s stock valued at $1,086,000 after purchasing an additional 4,905 shares during the period. Kovitz Investment Group Partners LLC bought a new position in shares of Montana Technologies during the 3rd quarter valued at approximately $508,000. HighTower Advisors LLC purchased a new stake in Montana Technologies during the 3rd quarter valued at $342,000. Charles Schwab Investment Management Inc. lifted its position in Montana Technologies by 14.3% in the third 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 last quarter. Finally, Quarry LP bought a new stake in Montana Technologies in the second quarter worth $81,000. Hedge funds and other institutional investors own 63.65% of the company’s stock.

Wall Street Analyst Weigh In

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

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.