Bridger Aerospace Group (NASDAQ:BAER) Upgraded 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 research report report published on Saturday morning.

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

Bridger Aerospace Group Stock Down 4.8%

Bridger Aerospace Group stock opened at $1.19 on Friday. The business’s 50-day moving average price is $1.79 and its 200 day moving average price is $2.06. The firm has a market cap of $66.54 million, a price-to-earnings ratio of -1.40 and a beta of 0.35. Bridger Aerospace Group has a 52 week low of $1.12 and a 52 week high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly 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). The company had revenue of $30.49 million during the quarter, compared to analyst estimates of $37.04 million. Bridger Aerospace Group had a negative net margin of 10.77% and a negative return on equity of 1.21%. Equities analysts expect that Bridger Aerospace Group will post -0.58 EPS for the current year.

Insider Buying and Selling at Bridger Aerospace Group

In other Bridger Aerospace Group news, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $1.70, for a total transaction of $3,230,000.00. Following the transaction, the insider directly owned 58,205 shares of the company’s stock, valued at $98,948.50. This trade represents a 97.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of Bridger Aerospace Group stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $1.04, for a total transaction of $2,889,248.96. Following the completion of the sale, the insider owned 37,272 shares in the company, valued at approximately $38,762.88. This trade represents a 98.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Bridger Aerospace Group

Several institutional investors have recently bought and sold shares of BAER. First Manhattan CO. LLC. increased its stake in Bridger Aerospace Group by 43.5% during the 4th quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock worth $10,090,000 after buying an additional 1,671,375 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Bridger Aerospace Group by 530.0% in the fourth quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock valued at $1,766,000 after acquiring an additional 811,899 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Bridger Aerospace Group in the second quarter worth approximately $560,000. Walleye Capital LLC acquired a new stake in shares of Bridger Aerospace Group in the first quarter worth approximately $428,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Bridger Aerospace Group by 50.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 332,042 shares of the company’s stock worth $608,000 after purchasing an additional 110,788 shares in the last quarter. 48.94% of the stock is currently owned by institutional investors and hedge funds.

Bridger Aerospace Group Company Profile

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.