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

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

Bridger Aerospace Group Stock Performance

Shares of NASDAQ BAER traded down $0.01 during trading on Tuesday, reaching $1.08. The stock had a trading volume of 592,093 shares, compared to its average volume of 837,985. Bridger Aerospace Group has a one year low of $1.07 and a one year high of $3.44. The stock has a market cap of $60.67 million, a PE ratio of -1.28 and a beta of 0.35. The firm’s 50 day moving average price is $1.65 and its two-hundred day moving average price is $1.94.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings data 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). The firm had revenue of $30.49 million for the quarter, compared to the consensus estimate of $37.04 million. Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.77%. On average, research analysts expect that Bridger Aerospace Group will post -0.58 earnings per share for the current year.

Insider Activity at Bridger Aerospace Group

In other Bridger Aerospace Group news, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $1.04, for a total transaction of $2,889,248.96. Following the transaction, the insider owned 37,272 shares in the company, valued at $38,762.88. The trade was a 98.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey E. Kelter bought 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of $1.20 per share, with a total value of $120,000.00. Following the transaction, the director directly owned 677,800 shares of the company’s stock, valued at approximately $813,360. This trade represents a 17.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 16.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BAER. First Manhattan CO. LLC. boosted its holdings in shares of Bridger Aerospace Group by 43.5% in the 4th quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock valued at $10,090,000 after buying an additional 1,671,375 shares during the period. Marshall Wace LLP raised its stake in Bridger Aerospace Group by 530.0% during the fourth quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock worth $1,766,000 after acquiring an additional 811,899 shares during the period. Vanguard Group Inc. raised its stake in Bridger Aerospace Group by 7.9% during the third quarter. Vanguard Group Inc. now owns 809,615 shares of the company’s stock worth $1,498,000 after acquiring an additional 59,482 shares during the period. Goldman Sachs Group Inc. lifted its holdings in 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 acquiring an additional 110,788 shares during the last quarter. Finally, BlackRock Inc. bought a new position in Bridger Aerospace Group in the second quarter worth about $560,000. 48.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.