Montana Technologies (NASDAQ:AIRJ) Shares Down 11.1% – Time to Sell?

Montana Technologies Co. (NASDAQ:AIRJ)’s share price dropped 11.1% during mid-day trading on Tuesday . The stock traded as low as $9.81 and last traded at $10.06. Approximately 99,266 shares changed hands during trading, an increase of 37% from the average daily volume of 72,376 shares. The stock had previously closed at $11.32.

Montana Technologies Stock Performance

The business’s 50 day simple moving average is $7.05 and its 200 day simple moving average is $8.10.

Insider Activity at Montana Technologies

In related news, major shareholder John Yogi Spence bought 11,765 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $8.50 per share, with a total value of $100,002.50. Following the completion of the transaction, the insider now directly owns 61,666 shares of the company’s stock, valued at $524,161. This represents a 23.58 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 40.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Montana Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in AIRJ. Quarry LP acquired a new stake in Montana Technologies in the 2nd quarter valued at approximately $81,000. HighTower Advisors LLC purchased a new position in shares of Montana Technologies during the third quarter worth $342,000. Charles Schwab Investment Management Inc. boosted its position in shares of Montana Technologies by 14.3% during 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 period. Kovitz Investment Group Partners LLC acquired a new stake in shares of Montana Technologies in the third quarter valued at $508,000. Finally, Geode Capital Management LLC raised its holdings in shares of Montana Technologies by 2.7% in the 3rd 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 during the period. 63.65% of the stock is owned by hedge funds and other institutional investors.

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.