Bridger Aerospace Group (NASDAQ:BAER) Stock Rating Cut to Strong Sell at Zacks Research

Bridger Aerospace Group (NASDAQ:BAER) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, Zacks reports.

A number of other equities analysts also recently commented on BAER. Wall Street Zen downgraded Bridger Aerospace Group from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings cut shares of Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 6th. Lake Street Capital reiterated a “buy” rating and issued a $4.00 price target on shares of Bridger Aerospace Group in a report on Friday, August 7th. Stifel Nicolaus set a $3.00 price objective on shares of Bridger Aerospace Group in a research report on Monday, August 10th. Finally, Canaccord Genuity Group decreased their price objective on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.67.

Bridger Aerospace Group Stock Up 0.5%

BAER opened at $0.47 on Monday. Bridger Aerospace Group has a one year low of $0.46 and a one year high of $3.44. The business has a 50 day simple moving average of $0.84 and a two-hundred day simple moving average of $1.80.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The firm had revenue of $30.49 million during the quarter, compared to analysts’ expectations of $37.04 million. Research analysts anticipate that Bridger Aerospace Group will post -0.64 EPS for the current year.

Insider Transactions at Bridger Aerospace Group

In other news, Director Jeffrey E. Kelter purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $1.20 per share, for a total transaction of $120,000.00. Following the completion of the transaction, the director directly owned 677,800 shares of the company’s stock, valued at $813,360. This trade represents a 17.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $1.04, for a total value of $2,889,248.96. Following the completion of the sale, the insider directly owned 37,272 shares in the company, valued at approximately $38,762.88. The trade was a 98.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Bridger Aerospace Group

Institutional investors have recently added to or reduced their stakes in the company. Penbrook Management LLC bought a new stake in shares of Bridger Aerospace Group during the 3rd quarter valued at $58,000. Peterson Wealth Advisors LLC grew its position in shares of Bridger Aerospace Group by 11.8% in the 3rd quarter. Peterson Wealth Advisors LLC now owns 260,837 shares of the company’s stock worth $183,000 after buying an additional 27,514 shares during the period. Corient Private Wealth LP bought a new position in shares of Bridger Aerospace Group in the 2nd quarter worth about $53,000. Bank of America Corp DE increased its stake in shares of 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 acquiring an additional 104,576 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of Bridger Aerospace Group in the 2nd quarter worth about $560,000. Institutional investors own 48.94% of the company’s stock.

About Bridger Aerospace Group

Bridger Aerospace Group Co is an aerial firefighting and wildfire management company based in Montana. The company provides aircraft, crews and related services to help government agencies and other customers detect, contain and suppress wildfires.

Its operations include aerial delivery of fire retardant and water, wildfire surveillance, intelligence and mapping, and other specialized aviation services. Bridger operates a fleet of aircraft designed for wildfire response and serves federal, state and local agencies, primarily in the United States.

The company became publicly traded on the Nasdaq following its business combination with Jack Creek Investment Corp.