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 large increase in short interest in October. As of October 15th, there was short interest totalling 710,700 shares, an increase of 5.6% from the September 30th total of 672,700 shares. Based on an average trading volume of 153,200 shares, the short-interest ratio is currently 4.6 days. Currently, 5.5% of the company’s shares are sold short.

Insider Transactions at Bridger Aerospace Group

In other news, EVP James J. Muchmore sold 18,902 shares of Bridger Aerospace Group stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $2.70, for a total value of $51,035.40. Following the completion of the transaction, the executive vice president now directly owns 820,417 shares of the company’s stock, valued at approximately $2,215,125.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Eric L. Gerratt sold 18,731 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $2.59, for a total value of $48,513.29. Following the completion of the sale, the chief financial officer now directly owns 481,269 shares of the company’s stock, valued at $1,246,486.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $51,035.40. Following the completion of the sale, the executive vice president now directly owns 820,417 shares of the company’s stock, valued at $2,215,125.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,614 shares of company stock valued at $252,811. Corporate insiders own 70.70% of the company’s stock.

Hedge Funds Weigh In On Bridger Aerospace Group

Several institutional investors have recently modified their holdings of BAER. Rhumbline Advisers bought a new position in shares of Bridger Aerospace Group in the second quarter valued at approximately $36,000. Bank of New York Mellon Corp bought a new position in shares of Bridger Aerospace Group in the second quarter valued at approximately $50,000. Aspiriant LLC bought a new position in shares of Bridger Aerospace Group in the third quarter valued at approximately $145,000. Finally, Peterson Wealth Advisors LLC grew its holdings in shares of Bridger Aerospace Group by 20.0% in the third 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 in the last quarter. 48.94% of the stock is owned by institutional investors.

Bridger Aerospace Group Stock Performance

BAER stock opened at $3.34 on Thursday. The company has a market capitalization of $157.03 million, a P/E ratio of -1.91 and a beta of -0.18. Bridger Aerospace Group has a 52-week low of $1.71 and a 52-week high of $7.82. The business has a 50-day simple moving average of $2.59 and a two-hundred day simple moving average of $3.40.

Bridger Aerospace Group (NASDAQ:BAER) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.08). The business had revenue of $13.01 million during the quarter.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a $5.25 price target on shares of Bridger Aerospace Group in a research note on Tuesday, August 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.