Short Interest in Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Rises By 79.1%

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) saw a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 513,943 shares, an increase of 79.1% from the February 12th total of 287,016 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 482,745 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily trading volume, of 482,745 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.1% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BAER. Canaccord Genuity Group dropped their price target on shares of Bridger Aerospace Group from $5.25 to $5.00 and set a “buy” rating for the company in a research note on Monday. Wall Street Zen downgraded shares of Bridger Aerospace Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings lowered shares of Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bridger Aerospace Group has a consensus rating of “Hold” and an average target price of $5.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd bought a new stake in shares of Bridger Aerospace Group during the fourth quarter valued at about $82,000. First Manhattan CO. LLC. grew its position in 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 in the last quarter. Squarepoint Ops LLC grew its position in Bridger Aerospace Group by 30.6% in the 4th quarter. Squarepoint Ops LLC now owns 181,860 shares of the company’s stock valued at $333,000 after buying an additional 42,613 shares in the last quarter. Marshall Wace LLP increased its stake in Bridger Aerospace Group by 530.0% during the 4th quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock valued at $1,766,000 after buying an additional 811,899 shares during the period. Finally, Stifel Financial Corp increased its stake in Bridger Aerospace Group by 23.6% during the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock valued at $40,000 after buying an additional 4,180 shares during the period. Institutional investors own 48.94% of the company’s stock.

Bridger Aerospace Group Price Performance

BAER stock opened at $2.05 on Friday. The firm has a market cap of $113.86 million, a price-to-earnings ratio of -3.66 and a beta of 0.18. Bridger Aerospace Group has a 1-year low of $1.02 and a 1-year high of $3.44. The firm has a fifty day moving average price of $2.57 and a two-hundred day moving average price of $2.06.

Bridger Aerospace Group (NASDAQ:BAER) last posted its earnings results on Thursday, March 5th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.10). The company had revenue of $8.55 million during the quarter, compared to the consensus estimate of $6.50 million. Bridger Aerospace Group had a net margin of 3.37% and a negative return on equity of 1.21%.

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.