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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 685,800 shares, an increase of 14.1% from the December 15th total of 600,800 shares. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is presently 0.7 days. Approximately 4.9% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a $6.00 price target on shares of Bridger Aerospace Group in a research note on Wednesday.

Bridger Aerospace Group Stock Performance

Shares of BAER traded up $0.21 on Friday, reaching $2.98. The stock had a trading volume of 992,125 shares, compared to its average volume of 317,148. The firm has a market capitalization of $161.06 million, a price-to-earnings ratio of -2.18 and a beta of -0.29. The company has a 50-day simple moving average of $2.61 and a 200-day simple moving average of $2.80. Bridger Aerospace Group has a 12-month low of $1.71 and a 12-month high of $6.61.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.15). The firm had revenue of $64.51 million during the quarter.

Institutional Investors Weigh In On Bridger Aerospace Group

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers purchased a new position in shares of Bridger Aerospace Group in the 2nd quarter worth about $36,000. JPMorgan Chase & Co. increased its stake in Bridger Aerospace Group by 167.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,935 shares of the company’s stock valued at $38,000 after purchasing an additional 10,612 shares in the last quarter. Barclays PLC raised its holdings in Bridger Aerospace Group by 347.8% in the third quarter. Barclays PLC now owns 13,936 shares of the company’s stock worth $31,000 after buying an additional 10,824 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Bridger Aerospace Group in the second quarter worth approximately $50,000. Finally, GM Advisory Group LLC purchased a new stake in shares of Bridger Aerospace Group during the third quarter valued at approximately $61,000. 48.94% of the stock is owned by hedge funds and other institutional investors.

About Bridger Aerospace Group

Bridger Aerospace Group Holdings, Inc provides aerial wildfire management, relief and suppression, and firefighting services to federal and state government agencies in the United States. It offers fire suppression services, such as direct fire suppression aerial firefighting support services for ground crew to drop large amounts of water quickly and directly on wildfires.