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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAERGet Free Report) was the target of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 1,806,070 shares, an increase of 76.4% from the May 14th total of 1,023,599 shares. Based on an average daily trading volume, of 1,352,763 shares, the short-interest ratio is presently 1.3 days. Currently, 3.9% of the company’s shares are sold short.

Bridger Aerospace Group Price Performance

Shares of BAER traded down $0.02 during trading hours on Tuesday, hitting $1.85. 345,848 shares of the stock were exchanged, compared to its average volume of 768,138. Bridger Aerospace Group has a fifty-two week low of $1.47 and a fifty-two week high of $3.44. The business has a 50-day moving average of $2.01 and a 200-day moving average of $2.15. The firm has a market capitalization of $103.17 million, a P/E ratio of -2.20 and a beta of 0.32.

Bridger Aerospace Group (NASDAQ:BAERGet Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.32). Bridger Aerospace Group had a negative net margin of 10.05% and a negative return on equity of 1.21%. The firm had revenue of $8.51 million for the quarter, compared to the consensus estimate of $17.23 million. As a group, analysts forecast that Bridger Aerospace Group will post -0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on BAER shares. Weiss Ratings upgraded shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 2nd. Lake Street Capital assumed coverage on shares of Bridger Aerospace Group in a research note on Wednesday, May 20th. They issued a “buy” rating and a $4.50 price objective on the stock. Wall Street Zen downgraded Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Canaccord Genuity Group set a $4.50 target price on Bridger Aerospace Group in a research report on Friday, May 8th. Finally, Stifel Nicolaus began coverage on Bridger Aerospace Group in a report on Tuesday, March 31st. They set a “buy” rating and a $3.35 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.12.

View Our Latest Analysis on BAER

Institutional Investors Weigh In On Bridger Aerospace Group

Several large investors have recently added to or reduced their stakes in BAER. XTX Topco Ltd acquired a new position in Bridger Aerospace Group in the second quarter valued at approximately $26,000. HB Wealth Management LLC bought a new position in shares of Bridger Aerospace Group during the 1st quarter worth approximately $26,000. Janney Montgomery Scott LLC acquired a new stake in shares of Bridger Aerospace Group during the 1st quarter worth approximately $30,000. Stifel Financial Corp grew its position in shares of Bridger Aerospace Group by 23.6% during the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock worth $40,000 after buying an additional 4,180 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Bridger Aerospace Group in the 1st quarter valued at $41,000. Institutional investors and hedge funds own 48.94% of the company’s stock.

Bridger Aerospace Group Company Profile

(Get Free Report)

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.

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