Key Points
- Insider sale: AirJoule Technologies insider Chad Macdonald sold 5,320 shares on June 8 at an average price of $4.65, worth about $24,738. The filing says the sale was to cover tax withholding tied to vested equity awards.
- Additional transaction: Macdonald also sold 1,987 shares the next day at an average price of $4.50, totaling about $8,941.50. After the transactions, he still held 46,067 shares.
- Company backdrop: AirJoule shares were trading around $4.13, while the company recently reported a wider-than-expected quarterly loss of $0.74 per share. Analysts still largely remain bullish, with a consensus rating of Moderate Buy and an average price target of $8.25.
AirJoule Technologies Corporation (NASDAQ:AIRJ - Get Free Report) insider Chad Macdonald sold 5,320 shares of the business's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $4.65, for a total value of $24,738.00. Following the completion of the transaction, the insider owned 46,067 shares of the company's stock, valued at $214,211.55. This represents a 10.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Chad Macdonald also recently made the following trade(s):
- On Tuesday, June 9th, Chad Macdonald sold 1,987 shares of AirJoule Technologies stock. The stock was sold at an average price of $4.50, for a total value of $8,941.50.
AirJoule Technologies Price Performance
AIRJ stock opened at $4.13 on Thursday. The business has a fifty day moving average price of $3.66 and a 200-day moving average price of $3.49. AirJoule Technologies Corporation has a 1-year low of $2.22 and a 1-year high of $6.75. The stock has a market capitalization of $282.70 million, a P/E ratio of -3.62 and a beta of 0.88.
AirJoule Technologies (NASDAQ:AIRJ - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.68). As a group, analysts anticipate that AirJoule Technologies Corporation will post -0.14 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts recently commented on AIRJ shares. Seaport Research Partners started coverage on AirJoule Technologies in a research report on Friday, May 8th. They set a "buy" rating and a $7.00 price objective for the company. HC Wainwright reiterated a "buy" rating and set a $12.00 price objective on shares of AirJoule Technologies in a research report on Monday, May 18th. Weiss Ratings upgraded AirJoule Technologies from a "sell (e+)" rating to a "sell (d)" rating in a research report on Monday, May 18th. Finally, B. Riley Financial started coverage on AirJoule Technologies in a research report on Thursday, April 30th. They set a "buy" rating and a $6.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, AirJoule Technologies has an average rating of "Moderate Buy" and a consensus target price of $8.25.
Read Our Latest Research Report on AIRJ
Institutional Trading of AirJoule Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of AIRJ. Vident Advisory LLC purchased a new stake in shares of AirJoule Technologies in the fourth quarter worth $1,849,000. Geode Capital Management LLC grew its position in shares of AirJoule Technologies by 111.1% during the second quarter. Geode Capital Management LLC now owns 517,203 shares of the company's stock worth $2,395,000 after purchasing an additional 272,253 shares in the last quarter. Renaissance Technologies LLC grew its stake in AirJoule Technologies by 417.1% during the fourth quarter. Renaissance Technologies LLC now owns 287,500 shares of the company's stock valued at $1,133,000 after acquiring an additional 231,900 shares in the last quarter. Marshall Wace LLP grew its stake in AirJoule Technologies by 160.9% during the fourth quarter. Marshall Wace LLP now owns 314,948 shares of the company's stock valued at $1,241,000 after acquiring an additional 194,212 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in AirJoule Technologies during the first quarter valued at $482,000. 63.65% of the stock is owned by hedge funds and other institutional investors.
About AirJoule Technologies
(
Get Free Report)
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.
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