Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER – Get Free Report) saw a significant drop in short interest in 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 company’s stock are sold short. Based on an average trading volume of 2,438,986 shares, the short-interest ratio is presently 0.5 days.
Analyst Upgrades and Downgrades
BAER has been the topic of several recent analyst reports. Stifel Nicolaus set a $3.00 price objective on Bridger Aerospace Group in a research report on Monday, August 10th. Wall Street Zen raised Bridger Aerospace Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 15th. Canaccord Genuity Group lowered their target price on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Lake Street Capital reaffirmed a “buy” rating and set a $4.00 price target on shares of Bridger Aerospace Group in a report on Friday, August 7th. Finally, Weiss Ratings lowered shares of Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bridger Aerospace Group presently has an average rating of “Hold” and an average price target of $3.67.
Read Our Latest Stock Analysis on Bridger Aerospace Group
Bridger Aerospace Group Stock Performance
Bridger Aerospace Group (NASDAQ:BAER – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.77%.The firm had revenue of $30.49 million during the quarter, compared to analysts’ expectations of $37.04 million. As a group, sell-side analysts predict that Bridger Aerospace Group will post -0.58 EPS for the current fiscal year.
Insider Activity at Bridger Aerospace Group
In related news, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 58,205 shares of the company’s stock, valued at approximately $98,948.50. This represents a 97.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $1.04, for a total value of $2,889,248.96. Following the sale, the insider owned 37,272 shares in the company, valued at approximately $38,762.88. This represents a 98.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.36% of the stock is owned by insiders.
Institutional Trading of Bridger Aerospace Group
Large investors have recently added to or reduced their stakes in the business. First Manhattan CO. LLC. raised its position in Bridger Aerospace Group by 43.5% in the fourth quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock worth $10,090,000 after acquiring an additional 1,671,375 shares during the period. Marshall Wace LLP grew its holdings in Bridger Aerospace Group by 530.0% during the fourth quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock valued at $1,766,000 after purchasing an additional 811,899 shares during the period. BlackRock Inc. purchased a new stake in Bridger Aerospace Group in the second quarter worth about $560,000. Walleye Capital LLC bought a new position in shares of Bridger Aerospace Group in the first quarter worth about $428,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Bridger Aerospace Group by 50.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 332,042 shares of the company’s stock worth $608,000 after buying an additional 110,788 shares during the period. 48.94% of the stock is currently owned by 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.
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