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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 890,700 shares, a drop of 27.6% from the May 15th total of 1,230,000 shares. Approximately 2.9% of the company's stock are sold short. Based on an average daily volume of 266,900 shares, the short-interest ratio is currently 3.3 days.

Bridger Aerospace Group Trading Down 6.0%

BAER stock opened at $1.72 on Wednesday. The stock has a market capitalization of $94.12 million, a PE ratio of -2.18 and a beta of 0.10. Bridger Aerospace Group has a 12-month low of $1.02 and a 12-month high of $4.44. The stock's 50 day simple moving average is $1.56 and its 200 day simple moving average is $1.95.

Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.09. The firm had revenue of $15.65 million for the quarter, compared to the consensus estimate of $6.00 million.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their price objective on Bridger Aerospace Group from $5.00 to $5.25 and gave the company a "buy" rating in a research report on Wednesday, May 28th.

Institutional Investors Weigh In On Bridger Aerospace Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Bridger Aerospace Group in the 1st quarter worth $41,000. First Manhattan CO. LLC. grew its position in shares of Bridger Aerospace Group by 7.2% during the first quarter. First Manhattan CO. LLC. now owns 1,479,705 shares of the company's stock valued at $1,672,000 after purchasing an additional 100,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 valued at $37,000 after purchasing an additional 12,500 shares in the last quarter. Kieckhefer Group LLC grew its position in shares of Bridger Aerospace Group by 8,625.0% during the first quarter. Kieckhefer Group LLC now owns 174,500 shares of the company's stock valued at $197,000 after purchasing an additional 172,500 shares in the last quarter. Finally, HighMark Wealth Management LLC grew its position in shares of Bridger Aerospace Group by 33.2% during the first quarter. HighMark Wealth Management LLC now owns 80,162 shares of the company's stock valued at $91,000 after purchasing an additional 20,000 shares in the last quarter. 48.94% of the stock is currently owned by hedge funds and other institutional investors.

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.

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