AirJoule Technologies (NASDAQ:AIRJ) Stock Price Down 4.8% – Should You Sell?

AirJoule Technologies Corporation (NASDAQ:AIRJ)’s stock price dropped 4.8% on Monday . The company traded as low as $3.51 and last traded at $3.56. 969,198 shares traded hands during trading, a decline of 21% from the average session volume of 1,221,884 shares. The stock had previously closed at $3.74.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AIRJ. B. Riley Financial initiated coverage on shares of AirJoule Technologies in a report on Thursday, April 30th. They issued a “buy” rating and a $6.00 price target on the stock. Weiss Ratings upgraded AirJoule Technologies from a “sell (e+)” rating to a “sell (d)” rating in a report on Monday, May 18th. Seaport Research Partners started coverage on AirJoule Technologies in a research report on Friday, May 8th. They issued a “buy” rating and a $7.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of AirJoule Technologies in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.25.

AirJoule Technologies Stock Performance

The firm has a market cap of $257.74 million, a PE ratio of -3.12 and a beta of 0.83. The stock has a fifty day moving average price of $4.46 and a 200-day moving average price of $3.71.

AirJoule Technologies (NASDAQ:AIRJ) last posted its earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.68). As a group, equities analysts predict that AirJoule Technologies Corporation will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AirJoule Technologies

Large investors have recently made changes to their positions in the business. Bank of America Corp DE raised its stake in shares of AirJoule Technologies by 63.5% in the 1st quarter. Bank of America Corp DE now owns 25,779 shares of the company’s stock valued at $65,000 after acquiring an additional 10,011 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of AirJoule Technologies by 36.8% during the 1st quarter. Renaissance Technologies LLC now owns 393,200 shares of the company’s stock valued at $987,000 after acquiring an additional 105,700 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in AirJoule Technologies during the 1st quarter worth $482,000. Sei Investments Co. purchased a new stake in AirJoule Technologies during the 1st quarter worth $77,000. Finally, Bank of New York Mellon Corp boosted its position in AirJoule Technologies by 23.4% during the 1st quarter. Bank of New York Mellon Corp now owns 65,113 shares of the company’s stock worth $163,000 after purchasing an additional 12,362 shares during the period. Institutional investors and hedge funds own 63.65% of the company’s stock.

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.