Short Interest in Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Rises By 44.8%

Key Points

• Short interest rose 44.8% in March to 1,343,038 shares (about 3.0% of shares), leaving a short-interest ratio of roughly 2.0 days for NASDAQ:BAER.
• Institutional investors boosted stakes, notably First Manhattan (+43.5% to 5.51M shares) and Marshall Wace (+530% to 965,091 shares), with institutions owning about 48.94% of the company.
• Bridger reported a Q1 miss on EPS (‑$0.40 vs. ‑$0.30 expected) but revenue beat estimates; the stock trades near $2.23 (market cap ~$125M) and carries a mixed analyst consensus of "Hold" with a $4.18 target.

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 1,343,038 shares, an increase of 44.8% from the March 15th total of 927,785 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average trading volume of 673,984 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. First Manhattan CO. LLC. increased its stake in 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 acquiring an additional 1,671,375 shares during the last quarter. Marshall Wace LLP increased its stake in 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 acquiring an additional 811,899 shares during the last quarter. Vanguard Group Inc. increased its stake in Bridger Aerospace Group by 7.9% in the third quarter. Vanguard Group Inc. now owns 809,615 shares of the company's stock valued at $1,498,000 after acquiring an additional 59,482 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in 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 acquiring an additional 110,788 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Bridger Aerospace Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 284,601 shares of the company's stock valued at $521,000 after acquiring an additional 5,959 shares during the last quarter. Institutional investors own 48.94% of the company's stock.

Bridger Aerospace Group Stock Up 0.9%

BAER opened at $2.23 on Tuesday. The stock has a market cap of $124.70 million, a PE ratio of -3.98 and a beta of 0.27. Bridger Aerospace Group has a 52 week low of $1.22 and a 52 week high of $3.44. The business's fifty day simple moving average is $2.30 and its 200 day simple moving average is $2.08.

Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last released its earnings results on Thursday, March 5th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.10). The firm had revenue of $8.55 million during the quarter, compared to the consensus estimate of $6.50 million. Bridger Aerospace Group had a net margin of 3.37% and a negative return on equity of 1.21%.

Analyst Ratings Changes

Several equities research analysts have issued reports on BAER shares. Zacks Research upgraded Bridger Aerospace Group to a "hold" rating in a research report on Wednesday, April 1st. Canaccord Genuity Group dropped their target price on 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. Weiss Ratings downgraded Bridger Aerospace Group from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, March 9th. Stifel Nicolaus started coverage on Bridger Aerospace Group in a research report on Tuesday, March 31st. They set a "buy" rating and a $3.35 target price on the stock. Finally, Wall Street Zen downgraded Bridger Aerospace Group from a "hold" rating to a "strong sell" rating in a research report on Sunday, March 15th. Two investment 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, the company currently has an average rating of "Hold" and a consensus target price of $4.18.

Bridger Aerospace Group Company Profile

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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