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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) was the recipient 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. Based on an average trading volume of 184,400 shares, the short-interest ratio is currently 3.6 days. Currently, 5.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On Bridger Aerospace Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in shares of Bridger Aerospace Group by 347.8% during the 3rd 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 during the second quarter worth about $36,000. Bank of New York Mellon Corp purchased a new position in Bridger Aerospace Group during the second quarter worth about $50,000. GM Advisory Group LLC acquired a new position in Bridger Aerospace Group in the 3rd quarter valued at about $61,000. Finally, Aspiriant LLC acquired a new position in Bridger Aerospace Group in the 3rd quarter valued at about $145,000. Institutional investors and hedge funds own 48.94% of the company’s stock.

Bridger Aerospace Group Trading Up 2.2 %

BAER opened at $2.32 on Wednesday. Bridger Aerospace Group has a twelve month low of $1.71 and a twelve month high of $7.82. The firm has a market capitalization of $125.39 million, a PE ratio of -1.69 and a beta of -0.37. The firm’s 50-day moving average price is $2.87 and its 200 day moving average price is $3.03.

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

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price objective on Bridger Aerospace Group from $5.25 to $5.75 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

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.