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 during the month of December. As of December 31st, there was short interest totalling 685,800 shares, a growth of 14.1% from the December 15th total of 600,800 shares. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is presently 0.7 days. Currently, 4.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Bridger Aerospace Group by 347.8% during the third quarter. Barclays PLC now owns 13,936 shares of the company’s stock worth $31,000 after acquiring an additional 10,824 shares during the period. Rhumbline Advisers acquired a new stake in Bridger Aerospace Group in the second quarter valued at $36,000. JPMorgan Chase & Co. raised its position in shares of Bridger Aerospace Group by 167.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,935 shares of the company’s stock worth $38,000 after acquiring an additional 10,612 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Bridger Aerospace Group during the 2nd quarter worth approximately $50,000. Finally, GM Advisory Group LLC acquired a new position in Bridger Aerospace Group in the third quarter valued at $61,000. 48.94% of the stock is currently owned by institutional investors and hedge funds.

Bridger Aerospace Group Stock Performance

Shares of NASDAQ BAER opened at $2.98 on Friday. The firm has a fifty day moving average of $2.61 and a 200 day moving average of $2.81. Bridger Aerospace Group has a one year low of $1.71 and a one year high of $6.61. The firm has a market cap of $161.07 million, a PE ratio of -2.18 and a beta of -0.29.

Bridger Aerospace Group (NASDAQ:BAER) last posted its quarterly 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 company had revenue of $64.51 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “buy” rating and set a $6.00 price target on shares of Bridger Aerospace Group in a research note on Wednesday.

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.