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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 600,800 shares, a drop of 10.4% from the November 30th total of 670,300 shares. Approximately 4.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 165,200 shares, the days-to-cover ratio is presently 3.6 days.

Bridger Aerospace Group Price Performance

NASDAQ BAER traded up $0.01 during mid-day trading on Tuesday, hitting $2.09. The stock had a trading volume of 90,451 shares, compared to its average volume of 79,831. Bridger Aerospace Group has a twelve month low of $1.71 and a twelve month high of $7.27. The firm’s 50 day moving average is $2.85 and its 200 day moving average is $2.93. The stock has a market capitalization of $112.96 million, a price-to-earnings ratio of -1.53 and a beta of -0.37.

Bridger Aerospace Group (NASDAQ:BAER) last issued its earnings results on Monday, November 11th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.15). The firm had revenue of $64.51 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mill Creek Capital Advisors LLC acquired a new stake in shares of Bridger Aerospace Group in the third quarter valued at approximately $433,000. Rhumbline Advisers purchased a new stake in Bridger Aerospace Group in the 2nd quarter valued at $36,000. Bank of New York Mellon Corp acquired a new stake in shares of Bridger Aerospace Group in the 2nd quarter worth $50,000. Peterson Wealth Advisors LLC raised its holdings in shares of Bridger Aerospace Group by 20.0% during the 3rd quarter. Peterson Wealth Advisors LLC now owns 233,323 shares of the company’s stock worth $518,000 after acquiring an additional 38,887 shares during the period. Finally, Aspiriant LLC purchased a new position in shares of Bridger Aerospace Group during the 3rd quarter worth $145,000. 48.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lifted their price objective on Bridger Aerospace Group from $5.25 to $5.75 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

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.