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

Key Points

• Short interest fell 25.3% in April to 1,003,375 shares, representing about 2.2% of shares outstanding and a short-interest ratio of 2.3 days.
• Analysts are mixed — the consensus rating is Hold with an average price target of $4.18 (2 Buys, 1 Hold, 1 Sell) — while institutional investors own 48.94% of the stock and several firms (First Manhattan, Marshall Wace, Goldman Sachs) materially increased positions recently.
• Bridger reported a $0.40 loss per share for the most recent quarter (missing estimates) with $8.55M in revenue; the stock trades near $2.12 with a market cap of about $118.6M and a 52‑week range of $1.22–$3.44.

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 1,003,375 shares, a drop of 25.3% from the March 31st total of 1,343,038 shares. Based on an average daily volume of 427,295 shares, the short-interest ratio is presently 2.3 days. Currently, 2.2% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research firms recently commented on BAER. Canaccord Genuity Group dropped their price target on shares of Bridger Aerospace Group from $5.25 to $5.00 and set a "buy" rating on the stock in a research report on Monday, March 9th. Zacks Research upgraded shares of Bridger Aerospace Group to a "hold" rating in a research report on Wednesday, April 1st. Stifel Nicolaus began coverage on shares of Bridger Aerospace Group in a research report on Tuesday, March 31st. They set a "buy" rating and a $3.35 price target on the stock. Wall Street Zen lowered shares of Bridger Aerospace Group from a "hold" rating to a "strong sell" rating in a research report on Sunday, March 15th. Finally, Weiss Ratings lowered shares of Bridger Aerospace Group from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, March 9th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.18.

Institutional Trading of Bridger Aerospace Group

Several institutional investors have recently modified their holdings of BAER. First Manhattan CO. LLC. grew its position in shares of Bridger Aerospace Group by 43.5% in the fourth quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company's stock valued at $10,090,000 after purchasing an additional 1,671,375 shares during the period. Marshall Wace LLP grew its position in shares of Bridger Aerospace Group by 530.0% in the fourth quarter. Marshall Wace LLP now owns 965,091 shares of the company's stock valued at $1,766,000 after purchasing an additional 811,899 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Bridger Aerospace Group by 50.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 332,042 shares of the company's stock valued at $608,000 after purchasing an additional 110,788 shares during the period. Kieckhefer Group LLC grew its position in shares of Bridger Aerospace Group by 63.0% in the third quarter. Kieckhefer Group LLC now owns 284,500 shares of the company's stock valued at $526,000 after purchasing an additional 110,000 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in shares of Bridger Aerospace Group by 555.6% in the second quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company's stock valued at $148,000 after purchasing an additional 65,000 shares during the period. Institutional investors and hedge funds own 48.94% of the company's stock.

Bridger Aerospace Group Stock Performance

BAER stock opened at $2.12 on Wednesday. The firm has a market cap of $118.55 million, a PE ratio of -3.79 and a beta of 0.27. The firm's fifty day moving average is $2.16 and its 200 day moving average is $2.11. Bridger Aerospace Group has a one year low of $1.22 and a one year high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.10). Bridger Aerospace Group had a net margin of 3.37% and a negative return on equity of 1.21%. The company had revenue of $8.55 million during the quarter, compared to analyst estimates of $6.50 million. Research analysts predict that Bridger Aerospace Group will post -0.22 earnings per share for the current fiscal year.

About Bridger Aerospace Group

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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