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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 685,800 shares, a growth of 14.1% from the December 15th total of 600,800 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 0.7 days.

Bridger Aerospace Group Stock Performance

Shares of BAER stock traded up $0.21 on Friday, hitting $2.98. 992,125 shares of the company’s stock traded hands, compared to its average volume of 317,148. The stock has a market capitalization of $161.06 million, a price-to-earnings ratio of -2.18 and a beta of -0.29. The company’s fifty day simple moving average is $2.61 and its 200 day simple moving average is $2.80. Bridger Aerospace Group has a one year low of $1.71 and a one year high of $6.61.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.31 earnings per share (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 Trading of Bridger Aerospace Group

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

Analysts Set New Price Targets

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

Bridger Aerospace Group Company Profile

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.