Short Interest in Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Decreases By 32.8%

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,170,000 shares, a drop of 32.8% from the January 15th total of 1,740,000 shares. Based on an average daily trading volume, of 1,330,000 shares, the short-interest ratio is presently 0.9 days. Approximately 6.3% of the shares of the stock are short sold.

Bridger Aerospace Group Stock Down 3.0 %

Shares of BAER traded down $0.07 during mid-day trading on Friday, reaching $2.23. 159,681 shares of the company’s stock were exchanged, compared to its average volume of 3,804,020. The company has a 50-day simple moving average of $2.53 and a two-hundred day simple moving average of $2.72. Bridger Aerospace Group has a 52-week low of $1.71 and a 52-week high of $6.20. The company has a market cap of $120.53 million, a price-to-earnings ratio of -1.63 and a beta of -0.23.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BAER. JPMorgan Chase & Co. boosted its holdings in shares of Bridger Aerospace Group by 167.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,935 shares of the company’s stock valued at $38,000 after purchasing an additional 10,612 shares during the last quarter. Barclays PLC boosted its holdings in shares of Bridger Aerospace Group by 347.8% in the 3rd quarter. Barclays PLC now owns 13,936 shares of the company’s stock valued at $31,000 after purchasing an additional 10,824 shares during the last quarter. Scratch Capital LLC acquired a new position in shares of Bridger Aerospace Group during the 4th quarter valued at $29,000. Geode Capital Management LLC lifted its holdings in shares of Bridger Aerospace Group by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 369,617 shares of the company’s stock valued at $788,000 after acquiring an additional 18,243 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Bridger Aerospace Group by 26.3% during the 4th quarter. Northern Trust Corp now owns 115,573 shares of the company’s stock valued at $246,000 after acquiring an additional 24,067 shares in the last quarter. 48.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $6.00 target price on shares of Bridger Aerospace Group in a report on Wednesday, January 15th.

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.