Bridger Aerospace Group Holdings, Inc. (BAER) is facing downward pressure today, potentially due to concerns surrounding its price-to-sales (P/S) ratio. Despite a recent 28% share price increase over the last month, the stock remains down 50% over the past year. The company's P/S ratio of 1.9x is higher than nearly half of the companies in the U.S. Commercial Services industry, which have ratios below 1.3x. This elevated P/S ratio suggests that investors may be cautious about the stock's valuation, despite the company's strong revenue growth and future prospects.
Additionally, recent news about drone interference in aerial firefighting operations may be contributing to investor unease. Bridger Aerospace's interim CEO, Sam Davis, expressed concerns over drones colliding with firefighting aircraft, which could potentially lead to catastrophic outcomes. Although the recent drone collision involved a plane not owned by Bridger Aerospace, the incident highlights the risks associated with their operations, possibly affecting investor sentiment.
The current price of Bridger Aerospace's stock is $2.64, reflecting an 8.97% decrease from the previous close of $2.90. The stock opened at $2.75 and has fluctuated between a high of $2.81 and a low of $2.57 so far today. Despite being just 30 minutes into the trading day, the volume is relatively low at 167,285 shares, representing only 12.41% of the average daily volume of 1,348,040 shares.