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

Bridger Aerospace Group (NASDAQ:BAER) posted its quarterly earnings data on Thursday. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.10), FiscalAI reports. Bridger Aerospace Group had a negative return on equity of 1.91% and a net margin of 4.96%.The business had revenue of $8.55 million for the quarter, compared to the consensus estimate of $6.50 million.

Bridger Aerospace Group Stock Performance

Shares of NASDAQ BAER traded down $0.15 during midday trading on Thursday, reaching $2.34. The stock had a trading volume of 738,081 shares, compared to its average volume of 915,488. The company 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 12-month low of $1.02 and a 12-month high of $3.44. The stock has a 50-day moving average of $2.53 and a 200-day moving average of $2.06.

Institutional Investors Weigh In On Bridger Aerospace Group

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of Bridger Aerospace Group in the second quarter worth about $26,000. Stifel Financial Corp lifted its stake in Bridger Aerospace Group by 23.6% in the fourth quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock worth $40,000 after purchasing 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 4th quarter worth approximately $48,000. Centiva Capital LP purchased a new stake in Bridger Aerospace Group in the third quarter worth $53,000. Finally, Jane Street Group LLC bought a new stake in shares of Bridger Aerospace Group during the second quarter worth $73,000. Institutional investors own 48.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Bridger Aerospace Group

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.