Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Given Average Recommendation of “Hold” by Brokerages

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) has earned a consensus rating of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $4.1167.

BAER has been the subject of several recent analyst reports. Canaccord Genuity Group set a $4.50 price target on Bridger Aerospace Group in a report on Friday, May 8th. Zacks Research upgraded Bridger Aerospace Group to a “hold” rating in a report on Wednesday, April 1st. Wall Street Zen downgraded Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Lake Street Capital initiated coverage on Bridger Aerospace Group in a report on Wednesday, May 20th. They issued a “buy” rating and a $4.50 price target for the company. Finally, Stifel Nicolaus initiated coverage on Bridger Aerospace Group in a report on Tuesday, March 31st. They issued a “buy” rating and a $3.35 price target for the company.

Bridger Aerospace Group Stock Performance

NASDAQ:BAER opened at $1.87 on Friday. Bridger Aerospace Group has a 1-year low of $1.47 and a 1-year high of $3.44. The business’s 50-day moving average price is $1.99 and its two-hundred day moving average price is $2.15. The firm has a market capitalization of $104.57 million, a price-to-earnings ratio of -2.23 and a beta of 0.33.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.32). Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.05%.The business had revenue of $8.51 million during the quarter, compared to the consensus estimate of $17.23 million. Sell-side analysts predict that Bridger Aerospace Group will post -0.49 earnings per share for the current year.

Institutional Investors Weigh In On Bridger Aerospace Group

Several large investors have recently modified their holdings of the business. Bank of America Corp DE increased its holdings in shares of Bridger Aerospace Group by 255,063.4% in the first 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. OMERS ADMINISTRATION Corp bought a new position in shares of Bridger Aerospace Group during the first quarter worth about $148,000. Walleye Capital LLC bought a new position in shares of Bridger Aerospace Group during the first quarter worth about $428,000. Dimensional Fund Advisors LP bought a new position in shares of Bridger Aerospace Group during the first quarter worth about $169,000. Finally, HB Wealth Management LLC bought a new position in shares of Bridger Aerospace Group during the first quarter worth about $26,000. 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.