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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 1,003,375 shares, a drop of 25.3% from the March 31st total of 1,343,038 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily volume of 427,295 shares, the short-interest ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

BAER has been the subject of several analyst reports. Canaccord Genuity Group lowered their target price on Bridger Aerospace Group from $5.25 to $5.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Weiss Ratings lowered Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 9th. Wall Street Zen lowered Bridger Aerospace Group from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 15th. Stifel Nicolaus started coverage on Bridger Aerospace Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $3.35 target price for the company. Finally, Zacks Research raised Bridger Aerospace Group to a “hold” rating in a research report on Wednesday, April 1st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.18.

Institutional Trading of Bridger Aerospace Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAER. Dynamic Technology Lab Private Ltd bought a new stake in Bridger Aerospace Group in the 1st quarter valued at about $41,000. XTX Topco Ltd bought a new stake in Bridger Aerospace Group in the 2nd quarter valued at about $26,000. Jane Street Group LLC bought a new stake in Bridger Aerospace Group in the 2nd quarter valued at about $73,000. Bridgeway Capital Management LLC increased its position in Bridger Aerospace Group by 555.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock valued at $148,000 after buying an additional 65,000 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its position in Bridger Aerospace Group by 34.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 39,000 shares of the company’s stock valued at $72,000 after buying an additional 10,000 shares in the last quarter. 48.94% of the stock is owned by institutional investors.

Bridger Aerospace Group Price Performance

Shares of NASDAQ:BAER traded up $0.02 during mid-day trading on Friday, hitting $2.05. The company had a trading volume of 422,072 shares, compared to its average volume of 739,971. Bridger Aerospace Group has a one year low of $1.22 and a one year high of $3.44. The firm has a fifty day moving average price of $2.14 and a 200 day moving average price of $2.11. The company has a market capitalization of $114.64 million, a PE ratio of -3.66 and a beta of 0.27.

Bridger Aerospace Group (NASDAQ:BAER) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.10). Bridger Aerospace Group had a negative return on equity of 1.21% and a net margin of 3.37%.The company had revenue of $8.55 million during the quarter, compared to analyst estimates of $6.50 million. Research analysts expect that Bridger Aerospace Group will post -0.22 earnings per share for the current fiscal year.

Bridger Aerospace Group Company Profile

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.