Short Interest in Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Declines By 35.1%

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 1,192,630 shares, a drop of 35.1% from the July 30th total of 1,836,949 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,438,986 shares, the short-interest ratio is presently 0.5 days.

Bridger Aerospace Group Price Performance

BAER opened at $1.09 on Wednesday. The business has a fifty day moving average of $1.63 and a 200 day moving average of $1.93. Bridger Aerospace Group has a 52-week low of $1.07 and a 52-week high of $3.44. The stock has a market cap of $60.95 million, a P/E ratio of -1.28 and a beta of 0.30.

Bridger Aerospace Group (NASDAQ:BAER) last issued its earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The company had revenue of $30.49 million for the quarter, compared to analysts’ expectations of $37.04 million. Bridger Aerospace Group had a negative net margin of 10.77% and a negative return on equity of 1.21%. Equities analysts anticipate that Bridger Aerospace Group will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BAER. Lake Street Capital reaffirmed a “buy” rating and set a $4.00 price objective on shares of Bridger Aerospace Group in a report on Friday, August 7th. Weiss Ratings upgraded shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th. Stifel Nicolaus set a $3.00 target price on shares of Bridger Aerospace Group in a report on Monday, August 10th. Wall Street Zen upgraded shares of Bridger Aerospace Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Canaccord Genuity Group lowered their price target on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.67.

Insider Buying and Selling

In related news, Director Jeffrey E. Kelter purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were acquired at an average price of $1.20 per share, for a total transaction of $120,000.00. Following the purchase, the director directly owned 677,800 shares in the company, valued at $813,360. This trade represents a 17.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of Bridger Aerospace Group stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $1.70, for a total value of $3,230,000.00. Following the completion of the sale, the insider directly owned 58,205 shares in the company, valued at $98,948.50. This trade represents a 97.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bridger Aerospace Group

A number of institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of Bridger Aerospace Group in the second quarter valued at approximately $26,000. HB Wealth Management LLC purchased a new stake in shares of Bridger Aerospace Group in the 1st quarter worth $26,000. Vise Technologies Inc. purchased a new stake in shares of Bridger Aerospace Group in the 2nd quarter worth $28,000. Janney Montgomery Scott LLC bought a new stake in shares of Bridger Aerospace Group in the first quarter valued at about $30,000. Finally, Stifel Financial Corp lifted its stake in Bridger Aerospace Group by 23.6% in the fourth quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock worth $40,000 after acquiring an additional 4,180 shares during the period. 48.94% of the stock is owned by hedge funds and other institutional investors.

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.