Bridger Aerospace Group (NASDAQ:BAER) Issues Quarterly Earnings Results

Bridger Aerospace Group (NASDAQ:BAER) issued its earnings results on Thursday. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.10), FiscalAI reports. The business had revenue of $8.55 million during the quarter, compared to analyst estimates of $6.50 million. Bridger Aerospace Group had a negative return on equity of 1.91% and a net margin of 4.96%.

Bridger Aerospace Group Price Performance

BAER traded down $0.15 on Thursday, hitting $2.34. The company had a trading volume of 685,039 shares, compared to its average volume of 913,838. Bridger Aerospace Group has a 1-year low of $1.02 and a 1-year high of $3.44. The company’s fifty day moving average price is $2.53 and its 200 day moving average price is $2.06. The stock has a market cap of $129.96 million, a price-to-earnings ratio of -4.50 and a beta of 0.18.

Hedge Funds Weigh In On Bridger Aerospace Group

Several large investors have recently made changes to their positions in BAER. XTX Topco Ltd bought a new position in Bridger Aerospace Group during the second quarter worth $26,000. Stifel Financial Corp raised its position in shares of Bridger Aerospace Group by 23.6% during the fourth quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock valued at $40,000 after buying an additional 4,180 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Bridger Aerospace Group in the first quarter valued at about $41,000. Centiva Capital LP acquired a new stake in Bridger Aerospace Group during the third quarter worth about $53,000. Finally, Jane Street Group LLC acquired a new stake in Bridger Aerospace Group during the second quarter worth about $73,000. Institutional investors and hedge funds own 48.94% of the company’s stock.

Wall Street Analyst Weigh In

BAER has been the subject of a number of research reports. Wall Street Zen raised shares of Bridger Aerospace Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Canaccord Genuity Group restated a “buy” rating and issued a $5.25 target price on shares of Bridger Aerospace Group in a research note on Tuesday, November 25th. Finally, Weiss Ratings raised Bridger Aerospace Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.25.

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.