Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Stock Now Rated “Hold” by Sell-Side Brokerages

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) has earned an average rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $3.67.

BAER has been the subject of several analyst reports. Wall Street Zen lowered Bridger Aerospace Group from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings downgraded shares of Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Stifel Nicolaus set a $3.00 price objective on shares of Bridger Aerospace Group in a research note on Monday, August 10th. Lake Street Capital reiterated a “buy” rating and set a $4.00 price target on shares of Bridger Aerospace Group in a report on Friday, August 7th. Finally, Canaccord Genuity Group dropped their price objective on Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, August 10th.

Bridger Aerospace Group Price Performance

Shares of NASDAQ BAER opened at $0.49 on Friday. The stock’s fifty day moving average price is $0.87 and its two-hundred day moving average price is $1.55. Bridger Aerospace Group has a one year low of $0.46 and a one year high of $3.44. The firm has a market cap of $27.47 million, a price-to-earnings ratio of -0.58 and a beta of 0.36.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The company had revenue of $30.49 million for the quarter, compared to analyst estimates of $37.04 million. On average, equities analysts anticipate that Bridger Aerospace Group will post -0.64 earnings per share for the current fiscal year.

Insider Activity at Bridger Aerospace Group

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

Hedge Funds Weigh In On Bridger Aerospace Group

Hedge funds have recently added to or reduced their stakes in the stock. Penbrook Management LLC bought a new position in shares of Bridger Aerospace Group during the 3rd quarter worth approximately $58,000. Peterson Wealth Advisors LLC grew its holdings in shares of Bridger Aerospace Group by 11.8% in the third quarter. Peterson Wealth Advisors LLC now owns 260,837 shares of the company’s stock valued at $183,000 after acquiring an additional 27,514 shares in the last quarter. Corient Private Wealth LP purchased a new stake in shares of Bridger Aerospace Group during the second quarter valued at approximately $53,000. Ruggaard & Associates LLC purchased a new position in Bridger Aerospace Group in the second quarter worth $58,000. Finally, BlackRock Inc. bought a new position in Bridger Aerospace Group in the 2nd quarter valued at $560,000. Institutional investors and hedge funds own 48.94% of the company’s stock.

About Bridger Aerospace Group

Bridger Aerospace Group Holdings, Inc is an aerial firefighting and wildfire management company based in Bozeman, Montana. The company provides specialized aviation services designed to help government agencies and other customers detect, monitor and suppress wildfires.

Bridger operates a fleet of firefighting and surveillance aircraft, including air tankers and amphibious aircraft. Its services include aerial wildfire suppression, fire mapping, intelligence and reconnaissance, transportation, and other aviation support activities.