Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Sees Significant Growth in Short Interest

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 513,943 shares, an increase of 79.1% from the February 12th total of 287,016 shares. Based on an average daily volume of 482,745 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.1% of the company’s stock are sold short. Approximately 1.1% of the company’s stock are sold short. Based on an average daily volume of 482,745 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

A number of research firms have recently issued reports on BAER. Weiss Ratings downgraded shares of Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday. Canaccord Genuity Group reduced their price objective on shares of Bridger Aerospace Group from $5.25 to $5.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Finally, Wall Street Zen cut Bridger Aerospace Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.00.

Bridger Aerospace Group Price Performance

Bridger Aerospace Group stock traded down $0.05 during trading hours on Friday, reaching $2.00. The stock had a trading volume of 426,364 shares, compared to its average volume of 588,280. The company has a market cap of $111.84 million, a price-to-earnings ratio of -3.57 and a beta of 0.18. The business’s 50 day moving average price is $2.58 and its 200-day moving average price is $2.06. Bridger Aerospace Group has a 52 week low of $1.02 and a 52 week high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.10). The firm had revenue of $8.55 million during the quarter, compared to the consensus estimate of $6.50 million. Bridger Aerospace Group had a net margin of 3.37% and a negative return on equity of 1.21%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BAER. First Manhattan CO. LLC. raised its position in shares of Bridger Aerospace Group by 43.5% in the 4th quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock valued at $10,090,000 after purchasing an additional 1,671,375 shares during the last quarter. Marshall Wace LLP grew its position in Bridger Aerospace Group by 530.0% during the 4th quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock worth $1,766,000 after purchasing an additional 811,899 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Bridger Aerospace Group by 50.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 332,042 shares of the company’s stock valued at $608,000 after purchasing an additional 110,788 shares in the last quarter. Kieckhefer Group LLC raised its holdings in shares of Bridger Aerospace Group by 63.0% in the third quarter. Kieckhefer Group LLC now owns 284,500 shares of the company’s stock worth $526,000 after buying an additional 110,000 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Bridger Aerospace Group by 555.6% during the second quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock worth $148,000 after buying an additional 65,000 shares during the period. 48.94% of the stock is owned by institutional investors and hedge funds.

About Bridger Aerospace Group

Bridger Aerospace Group, Inc operates as an aerial services company specializing in wildfire management and aviation support. The company’s core business activities include aerial wildfire suppression, providing rapid-response water and fire-retardant drops from fixed-wing air tankers. In addition to firefighting, Bridger Aerospace offers aviation services such as cloud seeding for weather modification, aerial inspection and mapping, environmental monitoring, and logistics support for remote sites.

Founded in 2014 and headquartered in Heber City, Utah, Bridger Aerospace Group deploys a fleet of both fixed-wing and rotary-wing aircraft under contract to federal, state and local government agencies as well as commercial customers.