Short Interest in Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Declines By 32.8%

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,170,000 shares, a decline of 32.8% from the January 15th total of 1,740,000 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 0.9 days. Currently, 6.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Bridger Aerospace Group Stock Down 3.0 %

Shares of BAER stock traded down $0.07 during midday trading on Friday, reaching $2.23. 159,681 shares of the stock were exchanged, compared to its average volume of 3,804,020. Bridger Aerospace Group has a 1 year low of $1.71 and a 1 year high of $6.20. The company’s 50 day moving average is $2.53 and its two-hundred day moving average is $2.72.

Hedge Funds Weigh In On Bridger Aerospace Group

A number of hedge funds have recently bought and sold shares of BAER. Scratch Capital LLC bought a new stake in Bridger Aerospace Group in the 4th quarter worth approximately $29,000. Barclays PLC lifted its stake in Bridger Aerospace Group by 347.8% in the 3rd quarter. Barclays PLC now owns 13,936 shares of the company’s stock worth $31,000 after purchasing an additional 10,824 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Bridger Aerospace Group by 167.8% during the third quarter. JPMorgan Chase & Co. now owns 16,935 shares of the company’s stock valued at $38,000 after buying an additional 10,612 shares during the last quarter. GM Advisory Group LLC bought a new position in shares of Bridger Aerospace Group during the 3rd quarter valued at approximately $61,000. Finally, LPL Financial LLC purchased a new position in shares of Bridger Aerospace Group in the 4th quarter worth $64,000. Institutional investors own 48.94% of the company’s stock.

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.