Bridger Aerospace Group (NASDAQ:BAER) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Bridger Aerospace Group (NASDAQ:BAER) from a hold rating to a strong sell rating in a research note published on Sunday.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group lowered their price target on Bridger Aerospace Group from $5.25 to $5.00 and set a “buy” rating for the company in a report on Monday, March 9th. Weiss Ratings cut shares of Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Bridger Aerospace Group Trading Down 2.4%

Shares of BAER opened at $2.00 on Friday. Bridger Aerospace Group has a 12-month low of $1.02 and a 12-month high of $3.44. The firm has a 50-day moving average price of $2.58 and a 200 day moving average price of $2.06. The firm has a market capitalization of $111.84 million, a P/E ratio of -3.57 and a beta of 0.19.

Bridger Aerospace Group (NASDAQ:BAER) last posted its earnings results on Thursday, March 5th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.10). The firm had revenue of $8.55 million during the quarter, compared to analyst estimates of $6.50 million. Bridger Aerospace Group had a net margin of 3.37% and a negative return on equity of 1.21%.

Hedge Funds Weigh In On Bridger Aerospace Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Manhattan CO. LLC. raised its holdings in shares of Bridger Aerospace Group by 43.5% in the 4th quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock valued at $10,090,000 after purchasing an additional 1,671,375 shares in the last quarter. Marshall Wace LLP lifted its stake in Bridger Aerospace Group by 530.0% during the fourth quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock worth $1,766,000 after purchasing an additional 811,899 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Bridger Aerospace Group by 50.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 332,042 shares of the company’s stock valued at $608,000 after purchasing an additional 110,788 shares in the last quarter. Kieckhefer Group LLC boosted its holdings in shares of Bridger Aerospace Group by 63.0% in the 3rd quarter. Kieckhefer Group LLC now owns 284,500 shares of the company’s stock valued at $526,000 after buying an additional 110,000 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in Bridger Aerospace Group by 555.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock worth $148,000 after acquiring an additional 65,000 shares in 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.