Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Short Interest Update

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,806,070 shares, a growth of 76.4% from the May 14th total of 1,023,599 shares. Approximately 3.9% of the company’s stock are short sold. Based on an average daily volume of 1,352,763 shares, the short-interest ratio is currently 1.3 days.

Hedge Funds Weigh In On Bridger Aerospace Group

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in Bridger Aerospace Group in the second quarter worth $26,000. HB Wealth Management LLC acquired a new position in Bridger Aerospace Group in the first quarter worth $26,000. Janney Montgomery Scott LLC acquired a new position in Bridger Aerospace Group in the first quarter worth $30,000. Stifel Financial Corp boosted its holdings in Bridger Aerospace Group by 23.6% in the fourth quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock worth $40,000 after purchasing an additional 4,180 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Bridger Aerospace Group in the first quarter worth $41,000. Institutional investors and hedge funds own 48.94% of the company’s stock.

Bridger Aerospace Group Trading Down 1.8%

NASDAQ BAER traded down $0.04 on Monday, hitting $1.87. 399,850 shares of the stock traded hands, compared to its average volume of 769,852. The stock has a 50-day moving average of $2.02 and a 200 day moving average of $2.15. Bridger Aerospace Group has a twelve month low of $1.47 and a twelve month high of $3.44. The company has a market capitalization of $104.30 million, a P/E ratio of -2.22 and a beta of 0.33.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on BAER shares. Canaccord Genuity Group set a $4.50 price objective on shares of Bridger Aerospace Group in a research note on Friday, May 8th. Weiss Ratings raised shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 2nd. Zacks Research raised shares of Bridger Aerospace Group to a “hold” rating in a research report on Wednesday, April 1st. Wall Street Zen downgraded shares of Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Lake Street Capital started coverage on shares of Bridger Aerospace Group in a research report on Wednesday, May 20th. They set a “buy” rating and a $4.50 price target for the company. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.12.

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.