Montana Technologies (NASDAQ:AIRJ) Trading Up 2.8% – Here’s Why

Montana Technologies Co. (NASDAQ:AIRJ) shares rose 2.8% on Monday . The stock traded as high as $9.00 and last traded at $8.58. Approximately 121,762 shares were traded during mid-day trading, an increase of 74% from the average daily volume of 70,067 shares. The stock had previously closed at $8.35.

Montana Technologies Trading Up 0.1 %

The business’s 50-day moving average price is $6.73 and its two-hundred day moving average price is $8.30.

Insider Buying and Selling at Montana Technologies

In related news, major shareholder John Yogi Spence acquired 11,765 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average cost of $8.50 per share, for a total transaction of $100,002.50. Following the completion of the acquisition, the insider now directly owns 61,666 shares in the company, valued at approximately $524,161. The trade was a 23.58 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 40.39% of the company’s stock.

Hedge Funds Weigh In On Montana Technologies

Large investors have recently bought and sold shares of the company. Quarry LP bought a new position in shares of Montana Technologies in the 2nd quarter valued at about $81,000. HighTower Advisors LLC bought a new position in Montana Technologies in the third quarter valued at approximately $342,000. Charles Schwab Investment Management Inc. increased its position in shares of Montana Technologies by 14.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 69,733 shares of the company’s stock worth $404,000 after purchasing an additional 8,714 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Montana Technologies in the 3rd quarter valued at approximately $508,000. Finally, Geode Capital Management LLC grew 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 valued at $1,086,000 after buying an additional 4,905 shares in the last quarter. Institutional investors and hedge funds 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.