Bridger Aerospace Group (NASDAQ:BAER) Stock Price Down 2.1% – What’s Next?

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER)’s stock price fell 2.1% during trading on Wednesday . The company traded as low as $1.82 and last traded at $1.83. 347,480 shares were traded during trading, a decline of 61% from the average session volume of 884,544 shares. The stock had previously closed at $1.87.

Analyst Ratings Changes

A number of research firms have commented on BAER. Stifel Nicolaus began coverage on Bridger Aerospace Group in a report on Tuesday, March 31st. They set a “buy” rating and a $3.35 target price on the stock. Canaccord Genuity Group set a $4.50 price target on shares of Bridger Aerospace Group in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 2nd. Lake Street Capital started coverage on shares of Bridger Aerospace Group in a research report on Wednesday, May 20th. They issued a “buy” rating and a $4.50 price target on the stock. Finally, Wall Street Zen downgraded shares of Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.12.

Bridger Aerospace Group Stock Performance

The firm has a market cap of $102.33 million, a P/E ratio of -2.18 and a beta of 0.33. The firm has a fifty day moving average of $2.02 and a 200-day moving average of $2.15.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $17.23 million. Bridger Aerospace Group had a negative net margin of 10.05% and a negative return on equity of 1.21%. Equities research analysts expect that Bridger Aerospace Group Holdings, Inc. will post -0.49 earnings per share for the current year.

Institutional Trading of Bridger Aerospace Group

Several hedge funds have recently bought and sold shares of BAER. Dimensional Fund Advisors LP bought a new stake in Bridger Aerospace Group during the 1st quarter valued at $169,000. Stifel Financial Corp raised its stake in Bridger Aerospace Group by 23.6% during 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. Dynamic Technology Lab Private Ltd bought a new stake in Bridger Aerospace Group during the 4th quarter valued at $48,000. Centiva Capital LP bought a new stake in Bridger Aerospace Group during the 3rd quarter valued at $53,000. Finally, Jane Street Group LLC bought a new stake in Bridger Aerospace Group during the 2nd quarter valued at $73,000. 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.