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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,300,000 shares, a growth of 22.6% from the February 28th total of 1,060,000 shares. Based on an average trading volume of 1,420,000 shares, the short-interest ratio is presently 0.9 days. Currently, 7.0% of the company’s stock are sold short.

Bridger Aerospace Group Price Performance

NASDAQ:BAER opened at $1.11 on Wednesday. The business has a 50 day moving average of $2.05 and a 200 day moving average of $2.44. Bridger Aerospace Group has a 1-year low of $1.09 and a 1-year high of $5.20. The company has a market capitalization of $60.18 million, a price-to-earnings ratio of -0.81 and a beta of -0.14.

Bridger Aerospace Group (NASDAQ:BAER) last released its earnings results on Monday, March 17th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The business had revenue of $15.59 million for the quarter, compared to the consensus estimate of $9.70 million. During the same quarter last year, the firm posted ($0.67) EPS.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price target on Bridger Aerospace Group from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, March 17th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. purchased a new stake in Bridger Aerospace Group during the fourth quarter valued at approximately $604,000. Cerity Partners LLC lifted its holdings in shares of Bridger Aerospace Group by 456.6% in the 4th quarter. Cerity Partners LLC now owns 216,751 shares of the company’s stock worth $462,000 after acquiring an additional 177,811 shares during the last quarter. Geode Capital Management LLC grew its holdings in Bridger Aerospace Group by 54.0% during the 3rd quarter. Geode Capital Management LLC now owns 351,374 shares of the company’s stock valued at $780,000 after purchasing an additional 123,158 shares during the last quarter. Millennium Management LLC purchased a new position in Bridger Aerospace Group during the 4th quarter valued at $138,000. Finally, HighMark Wealth Management LLC bought a new stake in Bridger Aerospace Group during the 4th quarter valued at about $128,000. Institutional investors own 48.94% of the company’s stock.

About Bridger Aerospace Group

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.