Even just a simple form can send a share price climbing. That’s what happened for Bridger Aerospace Group (NASDAQ:BAER) and the 13D form it filed with the SEC. That was sufficient to take the aerial firefighting supply company’s shares up over 78% in today’s trading session, with prices at one point reaching 182% above the previous day’s close.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
There was little in the way of news or other developments short of that 13D filing. However, the filing did ultimately show that a group of investors currently held a 22.4% ownership stake in the company. Part of that group of investors, meanwhile, was none other than Jack Creek Investment Corp sponsor JCIC. Bridger went public about a month ago thanks to a merger with Jack Creek Investment Corp.
There were other investors besides JCIC, however. KSH Capital also had a stake. “Senior management” from both JCIC and KSH Capital were also listed as part of the 13D. However, analysis from Overlooked Alpha suggests that Bridger has significant “cash constraints” that will limit the company’s growth capability in the fairly short term. Thus, there may be “a run or two,” but ultimately, Bridger’s performance is likely to turn negative long-term.
Bridger is also a very volatile stock right now, as the last five days of trading point out. For most of the last five days, Bridger quietly puttered along in the $4 to $5 range. At least, until early this morning, when share prices briefly exploded to nearly reach three times that level. Subsequently, Bridger gave back a good chunk of those gains but held on to enough to effectively double yesterday’s closing share price.
