Bridger Aerospace Group (NASDAQ:BAER) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Bridger Aerospace Group (NASDAQ:BAER) to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Several other equities analysts have also recently weighed in on BAER. Stifel Nicolaus started coverage on shares of Bridger Aerospace Group in a research note on Tuesday. They set a “buy” rating and a $3.35 price target for the company. Weiss Ratings cut shares of Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 9th. Wall Street Zen downgraded shares of Bridger Aerospace Group from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 15th. Finally, Canaccord Genuity Group lowered their price target on shares of Bridger Aerospace Group from $5.25 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bridger Aerospace Group has an average rating of “Hold” and an average target price of $4.18.

Bridger Aerospace Group Price Performance

Shares of Bridger Aerospace Group stock opened at $2.02 on Wednesday. The firm has a market cap of $112.96 million, a price-to-earnings ratio of -3.61 and a beta of 0.27. The stock’s 50-day moving average is $2.42 and its 200-day moving average is $2.06. Bridger Aerospace Group has a one year low of $1.02 and a one year high of $3.44.

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

Hedge Funds Weigh In On Bridger Aerospace Group

A number of institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new stake in shares of Bridger Aerospace Group in the fourth quarter valued at approximately $82,000. First Manhattan CO. LLC. lifted its holdings in Bridger Aerospace Group by 43.5% during the 4th quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock valued at $10,090,000 after purchasing an additional 1,671,375 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Bridger Aerospace Group by 30.6% during the 4th quarter. Squarepoint Ops LLC now owns 181,860 shares of the company’s stock valued at $333,000 after purchasing an additional 42,613 shares during the last quarter. Marshall Wace LLP boosted its position in Bridger Aerospace Group by 530.0% during the fourth quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock worth $1,766,000 after purchasing an additional 811,899 shares during the period. Finally, Stifel Financial Corp increased its holdings in shares of Bridger Aerospace Group by 23.6% in the fourth quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock valued at $40,000 after purchasing an additional 4,180 shares during 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.