Bridger Aerospace Group (NASDAQ:BAER) Announces Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Bridger Aerospace Group (NASDAQ:BAER) announced its quarterly earnings results on Thursday. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.10), FiscalAI reports. The company 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 4.96% and a negative return on equity of 1.91%.

Bridger Aerospace Group Stock Performance

Bridger Aerospace Group stock traded down $0.15 during trading hours on Thursday, reaching $2.34. 685,039 shares of the company’s stock traded hands, compared to its average volume of 913,838. The firm has a market capitalization of $129.96 million, a price-to-earnings ratio of -4.50 and a beta of 0.18. Bridger Aerospace Group has a fifty-two week low of $1.02 and a fifty-two week high of $3.44. The firm’s 50 day moving average is $2.53 and its 200-day moving average is $2.06.

Hedge Funds Weigh In On Bridger Aerospace Group

Several large investors have recently bought and sold shares of BAER. Quadrature Capital Ltd bought a new stake in shares of Bridger Aerospace Group during the 4th quarter valued at $82,000. First Manhattan CO. LLC. increased its holdings 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 purchasing an additional 1,671,375 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Bridger Aerospace Group by 30.6% in the fourth quarter. Squarepoint Ops LLC now owns 181,860 shares of the company’s stock valued at $333,000 after buying an additional 42,613 shares during the period. Marshall Wace LLP boosted its holdings in Bridger Aerospace Group by 530.0% during the fourth quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock worth $1,766,000 after buying an additional 811,899 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Bridger Aerospace Group by 23.6% during the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock worth $40,000 after buying an additional 4,180 shares during the period. 48.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAER has been the topic of a number of recent analyst reports. Weiss Ratings raised Bridger Aerospace Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Wall Street Zen raised Bridger Aerospace Group from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $5.25 price objective on shares of Bridger Aerospace Group in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Bridger Aerospace Group presently has an average rating of “Moderate Buy” and a consensus price target of $5.25.

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.