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

by · The Cerbat Gem

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAERGet Free Report) saw a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 361,771 shares, a drop of 42.8% from the November 30th total of 632,667 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 463,198 shares, the short-interest ratio is currently 0.8 days. Based on an average trading volume of 463,198 shares, the short-interest ratio is currently 0.8 days. Currently, 0.8% of the shares of the company are sold short.

Insider Buying and Selling

In other news, Director Jeffrey E. Kelter purchased 200,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were acquired at an average price of $1.80 per share, for a total transaction of $360,000.00. Following the purchase, the director owned 627,800 shares in the company, valued at $1,130,040. This trade represents a 46.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 19.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new position in shares of Bridger Aerospace Group during the 2nd quarter valued at about $26,000. Charles Schwab Investment Management Inc. raised its stake in Bridger Aerospace Group by 61.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,001 shares of the company’s stock worth $37,000 after purchasing an additional 12,500 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Bridger Aerospace Group during the 1st quarter worth $41,000. Centiva Capital LP acquired a new stake in Bridger Aerospace Group in the 3rd quarter valued at about $53,000. Finally, Apollon Wealth Management LLC grew its position in shares of Bridger Aerospace Group by 34.5% during the third quarter. Apollon Wealth Management LLC now owns 39,000 shares of the company’s stock worth $72,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 48.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on BAER. Weiss Ratings reiterated a “sell (d)” rating on shares of Bridger Aerospace Group in a research report on Monday, December 15th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.25 price target on shares of Bridger Aerospace Group in a research report on Tuesday, November 25th. Finally, Wall Street Zen lowered Bridger Aerospace Group from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Bridger Aerospace Group has a consensus rating of “Hold” and a consensus target price of $5.25.

View Our Latest Stock Report on Bridger Aerospace Group

Bridger Aerospace Group Price Performance

Bridger Aerospace Group stock remained flat at $1.70 during trading on Friday. 385,122 shares of the company were exchanged, compared to its average volume of 332,754. The company has a market capitalization of $94.42 million, a price-to-earnings ratio of -3.27 and a beta of 0.15. The company has a fifty day moving average of $1.74 and a 200-day moving average of $1.81. Bridger Aerospace Group has a 1 year low of $1.02 and a 1 year high of $4.44.

Bridger Aerospace Group (NASDAQ:BAERGet Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $67.89 million for the quarter, compared to the consensus estimate of $48.40 million. Bridger Aerospace Group had a net margin of 4.96% and a negative return on equity of 1.91%.

Bridger Aerospace Group Company Profile

(Get Free Report)

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.

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