Short Interest in Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Declines By 42.8%

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 361,771 shares, a drop of 42.8% from the November 30th total of 632,667 shares. Based on an average daily volume of 463,198 shares, the short-interest ratio is presently 0.8 days. Currently, 0.8% of the company’s shares are short sold. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 463,198 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BAER shares. Wall Street Zen cut Bridger Aerospace Group from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bridger Aerospace Group in a research note on Monday, December 15th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $5.25 price target on shares of Bridger Aerospace Group in a report on Tuesday, November 25th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.25.

Insider Buying and Selling

In other news, Director Jeffrey E. Kelter bought 200,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were bought at an average cost of $1.80 per share, for a total transaction of $360,000.00. Following the acquisition, the director directly owned 627,800 shares of the company’s stock, valued at $1,130,040. This trade represents a 46.75% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 19.51% of the stock is owned by company insiders.

Institutional Trading of Bridger Aerospace Group

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in Bridger Aerospace Group during the 2nd quarter worth approximately $26,000. Centiva Capital LP acquired a new position in shares of Bridger Aerospace Group in the third quarter worth $53,000. Charles Schwab Investment Management Inc. increased its position in shares of Bridger Aerospace Group by 61.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,001 shares of the company’s stock worth $37,000 after acquiring an additional 12,500 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Bridger Aerospace Group during the first quarter worth $41,000. Finally, Jane Street Group LLC acquired a new position in Bridger Aerospace Group during the 2nd quarter worth $73,000. 48.94% of the stock is currently owned by hedge funds and other institutional investors.

Bridger Aerospace Group Price Performance

Shares of NASDAQ BAER opened at $1.70 on Monday. The firm has a market cap of $94.42 million, a price-to-earnings ratio of -3.27 and a beta of 0.15. Bridger Aerospace Group has a 52-week low of $1.02 and a 52-week high of $4.44. The business’s 50 day moving average is $1.74 and its two-hundred day moving average is $1.81.

Bridger Aerospace Group (NASDAQ:BAER) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $67.89 million during the quarter, compared to analyst estimates of $48.40 million. Bridger Aerospace Group had a negative return on equity of 1.91% and a net margin of 4.96%.

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.