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

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

Institutional Investors Weigh In On Bridger Aerospace Group

Institutional investors have recently bought and sold shares of the stock. Centiva Capital LP acquired a new stake in Bridger Aerospace Group in the third quarter worth about $53,000. Dynamic Technology Lab Private Ltd acquired a new stake in Bridger Aerospace Group in the fourth quarter worth about $48,000. Stifel Financial Corp lifted 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. XTX Topco Ltd acquired a new stake in Bridger Aerospace Group in the second quarter worth about $26,000. Finally, Bank of America Corp DE lifted its holdings in Bridger Aerospace Group by 255,063.4% in the first quarter. Bank of America Corp DE now owns 104,617 shares of the company’s stock worth $207,000 after purchasing an additional 104,576 shares during the period. Institutional investors and hedge funds own 48.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BAER shares. Stifel Nicolaus started coverage on shares of Bridger Aerospace Group in a report on Tuesday, March 31st. They issued a “buy” rating and a $3.35 price objective for the company. Zacks Research raised shares of Bridger Aerospace Group to a “hold” rating in a report on Wednesday, April 1st. Canaccord Genuity Group set a $4.50 price target on shares of Bridger Aerospace Group in a report on Friday, May 8th. Weiss Ratings raised shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen downgraded shares of Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.12.

Bridger Aerospace Group Price Performance

BAER stock traded down $0.04 on Monday, reaching $1.87. The company’s stock had a trading volume of 399,850 shares, compared to its average volume of 769,852. Bridger Aerospace Group has a 52 week low of $1.47 and a 52 week 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. The firm has a fifty day moving average of $2.02 and a two-hundred day moving average of $2.15.

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

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.