# AirJoule Technologies Corporation (AIRJ)

> Source: Nexqual · https://nexqual.com/AIRJ · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, AirJoule Technologies Corporation (AIRJ), nexqual.com/AIRJ" · informational, not investment advice.

**Price:** USD 2.94 (-3.92% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 3.06 · day 2.91–3.05 · 52w 2.22–6.65 · market cap $216M · NCM

## Key facts
- 1 of 80 tracked superinvestors hold AIRJ (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $187K; 1 not under a Rule 10b5-1 plan ($34K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.14 on a 1–5 scale) (7 analysts), mean target USD 9.29 (range 8–12).
- Total return with dividends: 1Y -44.3% vs S&P 500 +14.9%; 5Y -70.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-12, EPS estimate USD -0.07, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Operating income | -$1.3M | -$11.4M | -$65.9M | -$13.6M | -$14.0M |
| Net income | $2.0M | -$11.4M | $216M | -$9.0M | -$84.8M |
| Free cash flow | — | -$5.2M | -$24.3M | -$5.7M | -$7.3M |
| Cash + short-term investments | $1.3M | $59K | $28.0M | $21.8M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 0.9x · FCF yield -3.37% · Earnings yield -39.32%

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold AIRJ. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | 0.01% | $1.3M | New position |

## Insider sales (SEC Form 4, open-market, last ~7 months)
1 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-15 | Jore Matthew B | Chief Executive Officer | 50,000 | $153K | 0.6% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-08…2026-06-09 | Macdonald Chad | Chief Legal Officer | 7,307 | $34K | 14.2% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.14 on a 1–5 scale), 7 analysts; mean target USD 9.29 (low 8, high 12).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-31 | Needham | Initiated | Hold |  |
| 2026-08-17 | B. Riley Securities | Target raised | Buy | $6 → $8 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2022-01-31) |
|---|---|---|
| Total return | -44.3% | -70.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -44.4% | -22.6% |
| Volatility (annualized) | 84.8% | 55.2% |
| Max drawdown | -54.1% (Aug 2026→Oct 2026) | -81.0% (May 2024→Mar 2026) |

## Peers (Building Products & Equipment)
LMB (Limbach Holdings, Inc.) USD 47.55 -1.63% · JBI (Janus International Group, Inc.) USD 4.52 +5.85% · SWIM (Latham Group, Inc.) USD 6.54 +3.65% · NPKI (NPK International Inc.) USD 10.76 -2.98% · APOG (Apogee Enterprises, Inc.) USD 44.29 +1.40% · NX (Quanex Building Products Corpor) USD 20.65 +3.56%

## More
Full page: https://nexqual.com/AIRJ · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in AIRJ's own 10-K filed 2026-03-31 (https://www.sec.gov/Archives/edgar/data/1855474/000119312526133335/airj-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | GE Vernova (GEV) | ""A&R Joint Venture Agreement" are to the Second Amended and Restated Joint Venture Agreement for the AirJoule JV, entered into on April 25, 2025 between us and GE Vernova;" |
| Partner | CATL | ""CAMT" are to CAMT Climate Solutions, a limited liability company organized under the laws of Hong Kong pursuant to a joint venture entered into on October 27, 2021 between us and CATL; we and CATL both own 50% of CAMT's…" |
| Partner | CATL US | ""CATL Joint Venture Agreement" are to the Amended and Restated Joint Venture Agreement for CAMT, entered into on September 29, 2023 between us and CATL US;" |
| Partner | CARRIER GLOBAL Corp (CARR) | "We are commercializing and scaling manufacturing of our AirJoule systems through our global collaborations, including our 50/50 joint venture with GE Vernova Inc. (NYSE: GEV) and our commercial partnerships with Carrier …" |
| Partner | CAMT Climate Solutions | ""CAMT" are to CAMT Climate Solutions, a limited liability company organized under the laws of Hong Kong pursuant to a joint venture entered into on October 27, 2021 between us and CATL; we and CATL both own 50% of CAMT's…" |
| Partner | DuPont (DD) | "Additionally, the AirJoule JV leases laboratory space at The Innovation Space in Wilmington's DuPont Experimental Station for coating formulation research, as well as a 12,000 square-foot facility in Schenectady, New Yor…" |
| Competitor | Alphabet (Google) (GOOGL) | "In September 2025, we were selected as one of three winners, from more than seventy applicants, of the Net Zero Innovation Hub for Data Centers competition, a technology acceleration program backed by Google, Microsoft, …" |
| Competitor | Microsoft (MSFT) | "In September 2025, we were selected as one of three winners, from more than seventy applicants, of the Net Zero Innovation Hub for Data Centers competition, a technology acceleration program backed by Google, Microsoft, …" |
| Competitor | Vertiv (VRT) | "In September 2025, we were selected as one of three winners, from more than seventy applicants, of the Net Zero Innovation Hub for Data Centers competition, a technology acceleration program backed by Google, Microsoft, …" |

## Company outlook (8-K filed 2026-08-13)

- "Quarterly Report on Form 10-Q AirJoule Technologies' condensed consolidated financial statements and related footnotes are available in its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, which is expected to be filed with the Securities and Exchange Commission ("SEC") on August 14, 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.07 | $-0.07 | +5.0% | $0 | 5 |
| Next quarter (ends 2026-12-31) | $-0.07 | $-0.06 | +10.5% | $100,000 | 5 |
| Current fiscal year (ends 2026-12-31) | $-0.74 | $-0.25 | +192.1% | $183,330 | 3 |
| Next fiscal year (ends 2027-12-31) | $-0.28 | $-0.30 | -6.3% | $3.9M | 5 |