Montana Technologies (NASDAQ:AIRJ) Sees Unusually-High Trading Volume – Time to Buy?

Montana Technologies Co. (NASDAQ:AIRJ) saw unusually-high trading volume on Friday . Approximately 137,594 shares were traded during mid-day trading, an increase of 95% from the previous session’s volume of 70,416 shares.The stock last traded at $10.24 and had previously closed at $8.82.

Montana Technologies Stock Performance

The stock’s 50 day moving average is $6.86 and its two-hundred day moving average is $8.31.

Insider Transactions at Montana Technologies

In other 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 cost of $8.50 per share, for a total transaction of $100,002.50. Following the completion of the transaction, the insider now owns 61,666 shares in the company, valued at $524,161. This trade represents a 23.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 40.39% of the company’s stock.

Institutional Investors Weigh In On Montana Technologies

A number of institutional investors have recently added to or reduced their stakes in AIRJ. Kovitz Investment Group Partners LLC purchased a new position in Montana Technologies in the 3rd quarter worth approximately $508,000. Quarry LP purchased a new position in Montana Technologies in the 2nd quarter valued at about $81,000. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 4,905 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Montana Technologies during the third quarter worth about $342,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 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 acquiring an additional 8,714 shares in the last quarter. Hedge funds and other institutional investors 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.