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

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

Bridger Aerospace Group Stock Performance

BAER stock traded up $0.05 during midday trading on Tuesday, hitting $2.13. 114,993 shares of the stock were exchanged, compared to its average volume of 79,890. The stock has a market cap of $115.12 million, a price-to-earnings ratio of -1.55 and a beta of -0.37. Bridger Aerospace Group has a fifty-two week low of $1.71 and a fifty-two week high of $7.27. The stock’s 50-day moving average price is $2.85 and its 200-day moving average price is $2.93.

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

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their target price on shares of Bridger Aerospace Group from $5.25 to $5.75 and gave the company a “buy” rating in a report on Wednesday, November 13th.

Institutional Investors Weigh In On Bridger Aerospace Group

A number of institutional investors have recently added to or reduced their stakes in the company. Mill Creek Capital Advisors LLC acquired a new stake in Bridger Aerospace Group in the 3rd quarter valued at $433,000. Rhumbline Advisers acquired a new stake in shares of Bridger Aerospace Group during the second quarter worth approximately $36,000. Bank of New York Mellon Corp bought a new stake in shares of Bridger Aerospace Group in the second quarter worth $50,000. Peterson Wealth Advisors LLC boosted its stake in Bridger Aerospace Group by 20.0% during the 3rd quarter. Peterson Wealth Advisors LLC now owns 233,323 shares of the company’s stock valued at $518,000 after acquiring an additional 38,887 shares during the last quarter. Finally, Aspiriant LLC acquired a new position in Bridger Aerospace Group during the 3rd quarter worth $145,000. Hedge funds and other institutional investors own 48.94% of the company’s stock.

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.