Stifel Nicolaus Initiates Coverage on Bridger Aerospace Group (NASDAQ:BAER)

Stifel Nicolaus began coverage on shares of Bridger Aerospace Group (NASDAQ:BAER) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $3.35 price target on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 68.34% from the stock’s current price.

BAER has been the topic of several other research reports. Canaccord Genuity Group dropped their price objective on shares of Bridger Aerospace Group from $5.25 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Weiss Ratings downgraded Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, March 9th. Finally, Wall Street Zen lowered Bridger Aerospace Group from a “hold” rating to a “strong sell” rating in a report on Sunday, March 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.18.

Bridger Aerospace Group Price Performance

Bridger Aerospace Group stock opened at $1.99 on Tuesday. Bridger Aerospace Group has a 12 month low of $1.02 and a 12 month high of $3.44. The company has a fifty day moving average price of $2.43 and a two-hundred day moving average price of $2.06. The company has a market cap of $111.28 million, a PE ratio of -3.55 and a beta of 0.27.

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

Institutional Trading of Bridger Aerospace Group

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Bridger Aerospace Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 284,601 shares of the company’s stock worth $521,000 after purchasing an additional 5,959 shares during the last quarter. State Street Corp raised its holdings in shares of Bridger Aerospace Group by 32.1% during the fourth quarter. State Street Corp now owns 101,280 shares of the company’s stock valued at $185,000 after buying an additional 24,600 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Bridger Aerospace Group by 555.6% during the second quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock valued at $148,000 after buying an additional 65,000 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Bridger Aerospace Group during the fourth quarter worth approximately $84,000. Finally, Centiva Capital LP acquired a new position in shares of Bridger Aerospace Group during the third quarter worth approximately $53,000. 48.94% of the stock is currently 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.