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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 685,800 shares, a growth of 14.1% from the December 31st total of 600,800 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is presently 0.7 days.

Hedge Funds Weigh In On Bridger Aerospace Group

Several large investors have recently added to or reduced their stakes in BAER. Barclays PLC grew its holdings in Bridger Aerospace Group by 347.8% in the 3rd quarter. Barclays PLC now owns 13,936 shares of the company’s stock valued at $31,000 after buying an additional 10,824 shares during the period. JPMorgan Chase & Co. grew its holdings in Bridger Aerospace Group by 167.8% in the third quarter. JPMorgan Chase & Co. now owns 16,935 shares of the company’s stock valued at $38,000 after purchasing an additional 10,612 shares during the period. GM Advisory Group LLC acquired a new position in Bridger Aerospace Group during the third quarter worth approximately $61,000. Apollon Wealth Management LLC purchased a new position in Bridger Aerospace Group during the fourth quarter worth approximately $72,000. Finally, HighMark Wealth Management LLC purchased a new stake in shares of Bridger Aerospace Group during the 4th quarter valued at $128,000. 48.94% of the stock is currently owned by hedge funds and other institutional investors.

Bridger Aerospace Group Price Performance

Shares of NASDAQ BAER opened at $2.81 on Monday. The company has a 50-day simple moving average of $2.58 and a 200-day simple moving average of $2.77. The company has a market cap of $151.88 million, a PE ratio of -2.05 and a beta of -0.29. Bridger Aerospace Group has a 12 month low of $1.71 and a 12 month high of $6.29.

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

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and issued a $6.00 price objective on shares of Bridger Aerospace Group in a research report on Wednesday, January 15th.

Bridger Aerospace Group Company Profile

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.