Bridger Aerospace Group (NASDAQ:BAER) Stock Price Up 1.2% – Here’s Why

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) shares shot up 1.2% during mid-day trading on Monday . The stock traded as high as $2.54 and last traded at $2.46. 300,988 shares traded hands during trading, a decline of 55% from the average session volume of 672,421 shares. The stock had previously closed at $2.43.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BAER shares. Weiss Ratings upgraded Bridger Aerospace Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Wall Street Zen raised shares of Bridger Aerospace Group from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $5.25 target price on shares of Bridger Aerospace Group in a research report on Tuesday, November 25th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Bridger Aerospace Group Stock Up 4.2%

The stock’s 50 day moving average is $2.53 and its 200-day moving average is $2.06. The company has a market cap of $138.29 million, a PE ratio of -4.79 and a beta of 0.18.

Institutional Investors Weigh In On Bridger Aerospace Group

Several institutional investors have recently modified their holdings of BAER. Bridgeway Capital Management LLC lifted its position in Bridger Aerospace Group by 555.6% in the second quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock worth $148,000 after buying an additional 65,000 shares during the last quarter. Jane Street Group LLC bought a new position in Bridger Aerospace Group during the fourth quarter valued at $84,000. Quadrature Capital Ltd purchased a new stake in shares of Bridger Aerospace Group in the fourth quarter valued at $82,000. Centiva Capital LP bought a new stake in shares of Bridger Aerospace Group in the 3rd quarter worth about $53,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Bridger Aerospace Group in the 4th quarter worth about $48,000. 48.94% of the stock is owned by 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.