Bridger Aerospace Group (NASDAQ:BAER) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Bridger Aerospace Group (NASDAQ:BAER) from a strong sell rating to a hold rating in a report issued on Saturday morning.

A number of other equities research analysts have also issued reports on the company. Canaccord Genuity Group reduced their price target on Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Weiss Ratings raised Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Stifel Nicolaus set a $3.00 target price on shares of Bridger Aerospace Group in a research note on Monday, August 10th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $4.00 target price on shares of Bridger Aerospace Group in a report on Friday, August 7th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bridger Aerospace Group presently has an average rating of “Hold” and an average target price of $3.67.

Bridger Aerospace Group Stock Performance

Bridger Aerospace Group stock opened at $1.25 on Friday. The firm has a market capitalization of $69.90 million, a P/E ratio of -1.47 and a beta of 0.35. Bridger Aerospace Group has a twelve month low of $1.12 and a twelve month high of $3.44. The stock’s fifty day simple moving average is $1.80 and its 200-day simple moving average is $2.08.

Bridger Aerospace Group (NASDAQ:BAER) last released its earnings results 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). Bridger Aerospace Group had a negative net margin of 10.77% and a negative return on equity of 1.21%. The company had revenue of $30.49 million during the quarter, compared to analysts’ expectations of $37.04 million. Sell-side analysts predict that Bridger Aerospace Group will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $1.70, for a total value of $3,230,000.00. Following the transaction, the insider owned 58,205 shares in the company, valued at approximately $98,948.50. This represents a 97.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $1.04, for a total value of $2,889,248.96. Following the sale, the insider directly owned 37,272 shares in the company, valued at $38,762.88. This trade represents a 98.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 16.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bridger Aerospace Group

Several hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its holdings in Bridger Aerospace Group by 23.6% during 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Bridger Aerospace Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 284,601 shares of the company’s stock valued at $521,000 after buying an additional 5,959 shares in the last quarter. HB Wealth Management LLC purchased a new position in shares of Bridger Aerospace Group in the 1st quarter valued at $26,000. XTX Topco Ltd purchased a new position in shares of Bridger Aerospace Group in the 2nd quarter valued at $26,000. Finally, Vise Technologies Inc. purchased a new position in shares of Bridger Aerospace Group in the 2nd quarter valued at $28,000. 48.94% of the stock is currently owned by hedge funds and other institutional investors.

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.