Bridger Aerospace Group (NASDAQ:BAER) Raised to “Buy” at Wall Street Zen

Bridger Aerospace Group (NASDAQ:BAER) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Bridger Aerospace Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Canaccord Genuity Group restated a “buy” rating and set a $5.25 target price on shares of Bridger Aerospace Group in a research report on Tuesday, November 25th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.25.

Bridger Aerospace Group Price Performance

NASDAQ BAER opened at $2.89 on Friday. Bridger Aerospace Group has a 1-year low of $1.02 and a 1-year high of $3.44. The business has a 50 day simple moving average of $2.23 and a two-hundred day simple moving average of $1.97. The stock has a market capitalization of $160.51 million, a PE ratio of -5.56 and a beta of 0.15.

Bridger Aerospace Group (NASDAQ:BAER) last posted its earnings results on Thursday, November 6th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Bridger Aerospace Group had a negative return on equity of 1.91% and a net margin of 4.96%.The firm had revenue of $67.89 million during the quarter, compared to the consensus estimate of $48.40 million.

Insider Activity

In other news, Director Jeffrey E. Kelter purchased 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average cost of $1.80 per share, with a total value of $360,000.00. Following the purchase, the director owned 627,800 shares in the company, valued at approximately $1,130,040. This trade represents a 46.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 19.51% of the company’s stock.

Institutional Trading of Bridger Aerospace Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stanley Laman Group Ltd. bought a new stake in Bridger Aerospace Group in the fourth quarter worth about $52,000. Centiva Capital LP purchased a new stake in shares of Bridger Aerospace Group in the third quarter worth approximately $53,000. Vanguard Group Inc. lifted its stake in shares of Bridger Aerospace Group by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 809,615 shares of the company’s stock worth $1,498,000 after acquiring an additional 59,482 shares during the last quarter. Kieckhefer Group LLC lifted its stake in shares of Bridger Aerospace Group by 63.0% during the 3rd quarter. Kieckhefer Group LLC now owns 284,500 shares of the company’s stock worth $526,000 after acquiring an additional 110,000 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in Bridger Aerospace Group by 34.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 39,000 shares of the company’s stock valued at $72,000 after acquiring an additional 10,000 shares during the period. 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.