Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Receives Consensus Rating of “Hold” from Analysts

Shares of Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) have been given an average rating of “Hold” by the five ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $4.1167.

Several research firms recently weighed in on BAER. Canaccord Genuity Group set a $4.50 price target on Bridger Aerospace Group in a report on Friday, May 8th. Weiss Ratings raised Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 2nd. Zacks Research raised Bridger Aerospace Group to a “hold” rating in a report on Wednesday, April 1st. Wall Street Zen cut Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, Stifel Nicolaus started coverage on Bridger Aerospace Group in a report on Tuesday, March 31st. They issued a “buy” rating and a $3.35 price objective for the company.

Bridger Aerospace Group Stock Performance

NASDAQ:BAER opened at $1.87 on Friday. The stock has a market cap of $104.57 million, a P/E ratio of -2.23 and a beta of 0.33. The stock has a 50 day simple moving average of $1.99 and a 200 day simple moving average of $2.15. Bridger Aerospace Group has a 1-year low of $1.47 and a 1-year high of $3.44.

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

Hedge Funds Weigh In On Bridger Aerospace Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HB Wealth Management LLC acquired a new position in Bridger Aerospace Group in the 1st quarter valued at $26,000. XTX Topco Ltd acquired a new position in Bridger Aerospace Group in the 2nd quarter valued at $26,000. Janney Montgomery Scott LLC acquired a new position in Bridger Aerospace Group in the 1st quarter valued at $30,000. Stifel Financial Corp raised its holdings in Bridger Aerospace Group by 23.6% in the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock valued at $40,000 after acquiring an additional 4,180 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Bridger Aerospace Group in the 4th quarter valued at $48,000. 48.94% of the stock is owned by institutional investors and hedge funds.

About Bridger Aerospace Group

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.