Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Receives Average Recommendation of “Hold” from Analysts

Shares of Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) have received an average recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $3.6667.

Several equities research analysts have weighed in on the company. Stifel Nicolaus set a $3.00 target price on Bridger Aerospace Group in a research note on Monday, August 10th. Canaccord Genuity Group lowered their price target on Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, August 10th. Lake Street Capital reissued a “buy” rating and set a $4.00 price target on shares of Bridger Aerospace Group in a report on Friday, August 7th. Wall Street Zen upgraded Bridger Aerospace Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings lowered Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday.

Bridger Aerospace Group Trading Up 2.8%

Shares of Bridger Aerospace Group stock opened at $1.09 on Friday. The company has a 50 day moving average of $1.61 and a 200-day moving average of $1.90. Bridger Aerospace Group has a 1-year low of $1.05 and a 1-year high of $3.44. The company has a market cap of $60.95 million, a PE ratio of -1.28 and a beta of 0.29.

Bridger Aerospace Group (NASDAQ:BAER) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.77%.The firm had revenue of $30.49 million for the quarter, compared to analyst estimates of $37.04 million. Research analysts forecast that Bridger Aerospace Group will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of Bridger Aerospace Group stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1.04, for a total transaction of $2,889,248.96. Following the sale, the insider directly owned 37,272 shares of the company’s stock, valued at approximately $38,762.88. The trade was a 98.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of Bridger Aerospace Group stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $1.70, for a total transaction of $3,230,000.00. Following the sale, the insider directly owned 58,205 shares in the company, valued at $98,948.50. This trade represents a 97.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 16.36% of the company’s stock.

Institutional Trading of Bridger Aerospace Group

A number of hedge funds have recently added to or reduced their stakes in BAER. XTX Topco Ltd bought a new position in shares of Bridger Aerospace Group in the 2nd quarter valued at $26,000. HB Wealth Management LLC bought a new stake in Bridger Aerospace Group during the 1st quarter worth $26,000. Vise Technologies Inc. bought a new stake in Bridger Aerospace Group during the 2nd quarter worth $28,000. Janney Montgomery Scott LLC acquired a new position in Bridger Aerospace Group in the 1st quarter worth about $30,000. Finally, Stifel Financial Corp increased its holdings in Bridger Aerospace Group by 23.6% in the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock worth $40,000 after purchasing an additional 4,180 shares in the last quarter. Institutional investors and hedge funds own 48.94% of the company’s stock.

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.