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

Shares of Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) have received a consensus recommendation of “Hold” from the five ratings firms that are currently 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 objective among brokerages that have updated their coverage on the stock in the last year is $4.1167.

Several equities analysts have issued reports on BAER shares. Canaccord Genuity Group set a $4.50 price target on shares of Bridger Aerospace Group in a report on Friday, May 8th. Zacks Research raised shares of Bridger Aerospace Group to a “hold” rating in a report on Wednesday, April 1st. Weiss Ratings raised shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 2nd. Stifel Nicolaus started coverage on shares of Bridger Aerospace Group in a report on Tuesday, March 31st. They issued a “buy” rating and a $3.35 price target on the stock. Finally, Lake Street Capital started coverage on shares of Bridger Aerospace Group in a report on Wednesday, May 20th. They issued a “buy” rating and a $4.50 price target on the stock.

Bridger Aerospace Group Stock Down 2.1%

Shares of NASDAQ:BAER opened at $1.90 on Friday. The firm has a 50 day moving average of $2.02 and a 200 day moving average of $2.15. Bridger Aerospace Group has a 52 week low of $1.47 and a 52 week high of $3.44. The company has a market capitalization of $106.25 million, a price-to-earnings ratio of -2.26 and a beta of 0.33.

Bridger Aerospace Group (NASDAQ:BAER) last released 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 firm had revenue of $8.51 million during the quarter, compared to analysts’ expectations of $17.23 million. On average, sell-side analysts expect that Bridger Aerospace Group will post -0.49 EPS for the current year.

Institutional Investors Weigh In On Bridger Aerospace Group

A number of large investors have recently made changes to their positions in BAER. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Bridger Aerospace Group during the first quarter valued at $41,000. XTX Topco Ltd purchased a new stake in shares of Bridger Aerospace Group during the second quarter valued at $26,000. Jane Street Group LLC purchased a new stake in shares of Bridger Aerospace Group during the second quarter valued at $73,000. Bridgeway Capital Management LLC grew 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. Finally, Vanguard Group Inc. grew its holdings in shares of Bridger Aerospace Group by 7.9% during the third quarter. Vanguard Group Inc. now owns 809,615 shares of the company’s stock valued at $1,498,000 after buying an additional 59,482 shares during the last quarter. 48.94% of the stock is owned by hedge funds and other institutional investors.

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.