Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Receives Consensus Rating of “Hold” from Brokerages

Shares of Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) have been given an average recommendation of “Hold” by the five ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $4.1167.

A number of equities analysts have commented on BAER shares. Lake Street Capital began coverage on shares of Bridger Aerospace Group in a report on Wednesday. They issued a “buy” rating and a $4.50 price objective on the stock. Weiss Ratings downgraded Bridger Aerospace Group from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday. Canaccord Genuity Group set a $4.50 target price on Bridger Aerospace Group in a research report on Friday, May 8th. Stifel Nicolaus started coverage on Bridger Aerospace Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $3.35 target price for the company. Finally, Zacks Research upgraded shares of Bridger Aerospace Group to a “hold” rating in a research note on Wednesday, April 1st.

Bridger Aerospace Group Stock Performance

Shares of BAER stock traded up $0.18 during trading hours on Wednesday, reaching $1.85. The company had a trading volume of 188,315 shares, compared to its average volume of 736,682. Bridger Aerospace Group has a twelve month low of $1.22 and a twelve month high of $3.44. The company has a market capitalization of $103.17 million, a P/E ratio of -2.20 and a beta of 0.28. The stock’s fifty day simple moving average is $1.99 and its 200 day simple moving average is $2.12.

Bridger Aerospace Group (NASDAQ:BAER) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.32). The company had revenue of $8.51 million for the quarter, compared to analyst estimates of $17.23 million. Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.05%. As a group, equities analysts expect that Bridger Aerospace Group will post -0.49 earnings per share for the current year.

Institutional Trading of Bridger Aerospace Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in Bridger Aerospace Group in the first quarter worth about $41,000. XTX Topco Ltd bought a new position in shares of Bridger Aerospace Group during the second quarter valued at approximately $26,000. Jane Street Group LLC bought a new position in shares of Bridger Aerospace Group during the second quarter valued at approximately $73,000. Bridgeway Capital Management LLC lifted its holdings in shares of Bridger Aerospace Group by 555.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock worth $148,000 after purchasing an additional 65,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Bridger Aerospace Group by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 809,615 shares of the company’s stock worth $1,498,000 after purchasing an additional 59,482 shares during the last quarter. 48.94% of the stock is owned by institutional investors and hedge funds.

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.