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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 670,300 shares, a growth of 5.5% from the November 15th total of 635,100 shares. Approximately 5.2% of the shares of the stock are sold short. Based on an average trading volume of 184,400 shares, the days-to-cover ratio is presently 3.6 days.

Analysts Set New Price Targets

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

Bridger Aerospace Group Stock Down 1.8 %

Shares of BAER traded down $0.04 during midday trading on Tuesday, reaching $2.23. The company had a trading volume of 11,048 shares, compared to its average volume of 78,052. Bridger Aerospace Group has a 1-year low of $1.71 and a 1-year high of $7.82. The firm has a 50 day simple moving average of $2.86 and a 200-day simple moving average of $3.04. The stock has a market cap of $120.53 million, a PE ratio of -1.66 and a beta of -0.37.

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

Insider Buying and Selling at Bridger Aerospace Group

In related news, EVP James J. Muchmore sold 18,902 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $2.70, for a total transaction of $51,035.40. Following the transaction, the executive vice president now directly owns 820,417 shares in the company, valued at approximately $2,215,125.90. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 31,624 shares of company stock valued at $85,336 over the last quarter. 76.22% of the stock is currently owned by insiders.

Institutional Trading of Bridger Aerospace Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC grew its position in Bridger Aerospace Group by 347.8% in 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. Geode Capital Management LLC lifted its stake in shares of Bridger Aerospace Group by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 351,374 shares of the company’s stock valued at $780,000 after purchasing an additional 123,158 shares during the last quarter. GM Advisory Group LLC purchased a new position in shares of Bridger Aerospace Group during the 3rd quarter worth $61,000. Mill Creek Capital Advisors LLC acquired a new stake in shares of Bridger Aerospace Group during the 3rd quarter worth about $433,000. Finally, Peterson Wealth Advisors LLC raised its holdings in Bridger Aerospace Group by 20.0% in the 3rd quarter. Peterson Wealth Advisors LLC now owns 233,323 shares of the company’s stock valued at $518,000 after buying an additional 38,887 shares during the period. Institutional investors and hedge funds 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.