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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 685,800 shares, an increase of 14.1% from the December 15th total of 600,800 shares. Approximately 4.9% of the company's shares are sold short. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Bridger Aerospace Group

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in Bridger Aerospace Group by 347.8% during the third quarter. Barclays PLC now owns 13,936 shares of the company's stock valued at $31,000 after buying an additional 10,824 shares in the last quarter. Rhumbline Advisers bought a new stake in shares of Bridger Aerospace Group in the 2nd quarter valued at approximately $36,000. JPMorgan Chase & Co. raised its position in shares of Bridger Aerospace Group by 167.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,935 shares of the company's stock valued at $38,000 after acquiring an additional 10,612 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Bridger Aerospace Group during the 2nd quarter valued at approximately $50,000. Finally, GM Advisory Group LLC bought a new position in Bridger Aerospace Group during the third quarter worth $61,000. 48.94% of the stock is owned by institutional investors and hedge funds.

Bridger Aerospace Group Stock Performance

Shares of BAER stock traded up $0.21 on Friday, hitting $2.98. The stock had a trading volume of 992,125 shares, compared to its average volume of 317,148. Bridger Aerospace Group has a 52-week low of $1.71 and a 52-week high of $6.61. The firm has a market capitalization of $161.07 million, a price-to-earnings ratio of -2.18 and a beta of -0.29. The stock's 50 day moving average is $2.61 and its 200-day moving average is $2.80.

Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last announced its earnings results on Monday, November 11th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.15). The firm had revenue of $64.51 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a "buy" rating and set a $6.00 price objective on shares of Bridger Aerospace Group in a research note on Wednesday.

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.