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RONAN, Mont. - AirJoule Technologies Corporation (NASDAQ: AIRJ), a company specializing in water harvesting technology with a market capitalization of $255 million, is slated to be included in the Russell 3000® Index, effective after the US market opens on June 30, 2025. According to InvestingPro data, the company maintains strong financial health with a current ratio of 14.75 and minimal debt on its balance sheet. This announcement follows the preliminary list of additions posted on May 23, 2025, which identified the company as one of the 3,000 largest US public companies by market capitalization.
The Russell 3000® Index, which captures a comprehensive snapshot of the US equity market by including the largest public companies, is reconstituted annually. Companies are ranked based on total market capitalization as of April 30, 2025, for this year’s reconstitution. While AIRJ’s stock has experienced significant volatility, trading at $4.24 with a P/E ratio of 4.74, InvestingPro analysis suggests the stock is currently overvalued. Discover more insights with InvestingPro’s comprehensive research report, available for over 1,400 US stocks. Inclusion in the Russell 3000® means automatic placement in either the large-cap Russell 1000® or small-cap Russell 2000® Index as well as appropriate growth and value style indexes.
"We are honored to be included in the Russell 3000® Index," said Matt Jore, CEO of AirJoule Technologies. He attributed the inclusion as a milestone reflecting the company’s progress in advancing their AirJoule® technology and commitment to tackling global water scarcity and energy efficiency challenges. Despite the stock’s 61% decline over the past year, two analysts have recently revised their earnings expectations upward, with price targets ranging from $8.75 to $12.
FTSE Russell, a global index leader responsible for the Russell indexes, determines membership based on objective market-capitalization rankings and style attributes. Russell indexes are widely utilized by investment managers and institutional investors for creating index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets were benchmarked against Russell US indexes as of June 2024.
AirJoule Technologies Corporation is known for its AirJoule® system, which produces pure distilled water from air. The technology aims to reduce energy consumption and generate cost efficiencies. The company is commercializing AirJoule® through a joint venture with GE Vernova and in partnership with Carrier Global Corporation.
The inclusion in the Russell 3000® Index is based on the company’s market capitalization and does not reflect any forward-looking statements or potential risks as described in the company’s SEC filings. The company maintains a healthy balance sheet with more cash than debt, and analysts expect it to remain profitable this year, though net income is projected to decrease from current levels. These filings, available on the SEC’s website, detail various risks and uncertainties that could impact the company’s future performance. The information regarding the Russell 3000® Index inclusion is derived from a press release statement by AirJoule Technologies Corporation.
In other recent news, AirJoule Technologies Corp reported a net income of $14.9 million for Q1 2025, largely driven by non-cash gains. The company is expanding its manufacturing capabilities and forming strategic partnerships with industry leaders like GE Vernova and Carrier. AirJoule plans to deliver up to three pilot projects in the second half of 2025, with commercial product delivery anticipated in 2026. Additionally, GE Vernova has decided to double its investment in the joint venture with AirJoule, reflecting confidence in their collaboration. The company is also focusing on obtaining potable water certifications and expanding its Newark, Delaware facility. These developments are part of AirJoule’s ongoing efforts to address global water scarcity challenges through innovation in atmospheric water harvesting technology.
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