Bridger Aerospace Group (NASDAQ:BAER) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Bridger Aerospace Group (NASDAQ:BAER) from a hold rating to a sell rating in a report released on Saturday,Wall Street Zen reports.

A number of other analysts also recently issued reports on BAER. Weiss Ratings downgraded shares of Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 1st. Stifel Nicolaus set a $3.00 target price on Bridger Aerospace Group in a research note on Monday, August 10th. Canaccord Genuity Group lowered their price target on Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, Lake Street Capital restated a “buy” rating and set a $4.00 price target on shares of Bridger Aerospace Group in a research report on Friday, August 7th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.67.

Bridger Aerospace Group Price Performance

Shares of BAER opened at $1.04 on Friday. Bridger Aerospace Group has a 1-year low of $1.04 and a 1-year high of $3.44. The company has a market capitalization of $58.16 million, a P/E ratio of -1.22 and a beta of 0.29. The firm’s 50 day simple moving average is $1.51 and its 200 day simple moving average is $1.85.

Bridger Aerospace Group (NASDAQ:BAER) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) 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 analysts’ expectations of $37.04 million. Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.77%. On average, equities analysts anticipate that Bridger Aerospace Group will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Bridger Aerospace Group

In other news, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $1.70, for a total value of $3,230,000.00. Following the completion of the sale, the insider owned 58,205 shares of the company’s stock, valued at approximately $98,948.50. This represents a 97.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of the stock in a transaction on 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 transaction, the insider directly owned 37,272 shares in the company, valued at approximately $38,762.88. This represents a 98.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 16.36% of the company’s stock.

Institutional Trading of Bridger Aerospace Group

Several hedge funds have recently added to or reduced their stakes in BAER. Corient Private Wealth LP bought a new position in shares of Bridger Aerospace Group during the second quarter valued at about $53,000. Ruggaard & Associates LLC purchased a new stake in Bridger Aerospace Group during the 2nd quarter valued at about $58,000. Vise Technologies Inc. bought a new position in Bridger Aerospace Group during the 2nd quarter worth approximately $28,000. BlackRock Inc. purchased a new position in Bridger Aerospace Group in the 2nd quarter worth approximately $560,000. Finally, Bank of America Corp DE increased its stake in Bridger Aerospace Group by 255,063.4% in the 1st quarter. Bank of America Corp DE now owns 104,617 shares of the company’s stock worth $207,000 after purchasing an additional 104,576 shares during the period. 48.94% of the stock is owned by institutional investors.

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.