Wall Street Zen Upgrades Bridger Aerospace Group (NASDAQ:BAER) to Hold

Bridger Aerospace Group (NASDAQ:BAER) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also recently weighed in on BAER. Weiss Ratings raised shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 18th. Canaccord Genuity Group reduced their price objective on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Lake Street Capital reissued a “buy” rating and set a $4.00 price objective on shares of Bridger Aerospace Group in a report on Friday, August 7th. Finally, Stifel Nicolaus set a $3.00 price objective on shares of Bridger Aerospace Group in a report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.67.

Bridger Aerospace Group Price Performance

BAER opened at $0.68 on Friday. Bridger Aerospace Group has a 12 month low of $0.54 and a 12 month high of $3.44. The stock has a market capitalization of $38.03 million, a P/E ratio of -0.80 and a beta of 0.36. The business has a 50 day simple moving average of $1.19 and a 200-day simple moving average of $1.69.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The company had revenue of $30.49 million during the quarter, compared to analysts’ expectations of $37.04 million. Research analysts anticipate that Bridger Aerospace Group will post -0.58 EPS for the current year.

Insider Activity

In other news, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of Bridger Aerospace Group stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $1.04, for a total transaction of $2,889,248.96. Following the completion of the transaction, the insider owned 37,272 shares of the company’s stock, valued at $38,762.88. The trade was a 98.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey E. Kelter acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average price of $1.20 per share, for a total transaction of $120,000.00. Following the completion of the transaction, the director directly owned 677,800 shares in the company, valued at approximately $813,360. This represents a 17.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 16.36% of the company’s stock.

Institutional Trading of Bridger Aerospace Group

Several large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Bridger Aerospace Group during the 2nd quarter worth approximately $560,000. Walleye Capital LLC acquired a new stake in Bridger Aerospace Group during the 1st quarter valued at $428,000. Bank of America Corp DE grew its holdings in Bridger Aerospace Group by 255,063.4% during the 1st quarter. Bank of America Corp DE now owns 104,617 shares of the company’s stock valued at $207,000 after buying an additional 104,576 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Bridger Aerospace Group during the first quarter worth $169,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Bridger Aerospace Group during the first quarter worth $148,000. 48.94% of the stock is currently owned by institutional investors and hedge funds.

Bridger Aerospace Group Company Profile

Bridger Aerospace Group is an aerial firefighting and aviation services company headquartered in Bozeman, Montana. The company provides wildfire suppression services primarily to federal, state and local government agencies, helping protect communities, natural resources and critical infrastructure during wildfire events.

Bridger Aerospace operates a specialized aircraft fleet that includes firefighting airtankers and amphibious aircraft used to deliver water or retardant to active fires.