Canaccord Genuity Group Cuts Bridger Aerospace Group (NASDAQ:BAER) Price Target to $5.00

Bridger Aerospace Group (NASDAQ:BAER) had its target price lowered by Canaccord Genuity Group from $5.25 to $5.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on BAER. Wall Street Zen cut Bridger Aerospace Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings raised Bridger Aerospace Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bridger Aerospace Group presently has an average rating of “Hold” and an average target price of $5.00.

Bridger Aerospace Group Stock Up 4.5%

BAER stock opened at $2.09 on Monday. Bridger Aerospace Group has a 52 week low of $1.02 and a 52 week high of $3.44. The firm has a market capitalization of $116.08 million, a P/E ratio of -3.73 and a beta of 0.18. The company has a fifty day simple moving average of $2.57 and a two-hundred day simple moving average of $2.06.

Bridger Aerospace Group (NASDAQ:BAER) last posted its earnings results on Thursday, March 5th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.10). Bridger Aerospace Group had a negative return on equity of 1.21% and a net margin of 3.37%.The business had revenue of $8.55 million during the quarter, compared to the consensus estimate of $6.50 million.

Hedge Funds Weigh In On Bridger Aerospace Group

A number of large investors have recently made changes to their positions in BAER. XTX Topco Ltd bought a new position in shares of Bridger Aerospace Group during the second quarter valued at approximately $26,000. Stifel Financial Corp lifted its stake 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 acquiring an additional 4,180 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Bridger Aerospace Group during the 1st quarter worth approximately $41,000. Stanley Laman Group Ltd. purchased a new position in Bridger Aerospace Group during the 4th quarter valued at $52,000. Finally, Centiva Capital LP purchased a new position in Bridger Aerospace Group during the 3rd quarter valued at $53,000. 48.94% of the stock is owned by hedge funds and other institutional investors.

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.