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

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 shares of the stock are short sold. Based on an average daily trading volume, of 1,352,763 shares, the short-interest ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BAER. Wall Street Zen lowered Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Lake Street Capital began coverage on Bridger Aerospace Group in a research note on Wednesday, May 20th. They set a “buy” rating and a $4.50 price objective for the company. Weiss Ratings raised Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group set a $4.50 price objective on Bridger Aerospace Group in a research note on Friday, May 8th. Finally, Stifel Nicolaus began coverage on Bridger Aerospace Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $3.35 price objective for the company. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.12.

Bridger Aerospace Group Stock Down 1.1%

Shares of BAER stock opened at $1.84 on Wednesday. The business has a 50-day moving average price of $2.01 and a two-hundred day moving average price of $2.15. Bridger Aerospace Group has a 12-month low of $1.47 and a 12-month high of $3.44. The firm has a market cap of $102.89 million, a P/E ratio of -2.19 and a beta of 0.33.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings results 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). Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.05%.The firm had revenue of $8.51 million for the quarter, compared to the consensus estimate of $17.23 million. As a group, research analysts expect that Bridger Aerospace Group will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Bridger Aerospace Group

Several hedge funds have recently added to or reduced their stakes in BAER. Dynamic Technology Lab Private Ltd bought a new stake in Bridger Aerospace Group during the first quarter worth about $41,000. XTX Topco Ltd bought a new stake in Bridger Aerospace Group during the second quarter worth about $26,000. Jane Street Group LLC bought a new stake in Bridger Aerospace Group during the second quarter worth about $73,000. Bridgeway Capital Management LLC lifted its stake in Bridger Aerospace Group by 555.6% during the second quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock worth $148,000 after purchasing an additional 65,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Bridger Aerospace Group by 7.9% during the third quarter. Vanguard Group Inc. now owns 809,615 shares of the company’s stock worth $1,498,000 after purchasing an additional 59,482 shares during the last quarter. Institutional investors own 48.94% of the company’s stock.

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.