Bridger Aerospace Group (NASDAQ:BAER) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Bridger Aerospace Group (NASDAQ:BAER) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

Several other research firms have also recently weighed in on BAER. Stifel Nicolaus set a $3.00 price target on shares of Bridger Aerospace Group in a report on Monday, August 10th. Lake Street Capital restated a “buy” rating and set a $4.00 price objective on shares of Bridger Aerospace Group in a report on Friday, August 7th. Weiss Ratings downgraded Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Finally, Canaccord Genuity Group lowered their target price on Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.67.

Bridger Aerospace Group Stock Down 5.8%

NASDAQ:BAER opened at $0.46 on Friday. The company has a market cap of $25.86 million, a P/E ratio of -0.54 and a beta of 0.36. Bridger Aerospace Group has a twelve month low of $0.46 and a twelve month high of $3.44. The business has a 50 day moving average price of $0.86 and a two-hundred day moving average price of $1.81.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The firm had revenue of $30.49 million during the quarter, compared to the consensus estimate of $37.04 million. As a group, analysts anticipate that Bridger Aerospace Group will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Bridger Aerospace Group

In related news, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1.04, for a total transaction of $2,889,248.96. Following the completion of the transaction, the insider directly owned 37,272 shares in the company, valued at $38,762.88. This represents a 98.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $1.70, for a total value of $3,230,000.00. Following the completion of the transaction, the insider owned 58,205 shares of the company’s stock, valued at $98,948.50. The trade was a 97.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 16.36% of the company’s stock.

Institutional Trading of Bridger Aerospace Group

A number of institutional investors and hedge funds have recently bought and sold shares of BAER. BlackRock Inc. acquired a new position in Bridger Aerospace Group during the 2nd quarter worth about $560,000. Walleye Capital LLC acquired a new stake in shares of Bridger Aerospace Group in the first quarter valued at about $428,000. Bank of America Corp DE increased its stake 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 valued at $207,000 after buying an additional 104,576 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Bridger Aerospace Group in the first quarter valued at about $169,000. Finally, Penbrook Management LLC bought a new position in shares of Bridger Aerospace Group during the third quarter worth about $58,000. 48.94% of the stock is currently owned by institutional investors and hedge funds.

About Bridger Aerospace Group

Bridger Aerospace Group Co is an aerial firefighting and wildfire management company based in Montana. The company provides aircraft, crews and related services to help government agencies and other customers detect, contain and suppress wildfires.

Its operations include aerial delivery of fire retardant and water, wildfire surveillance, intelligence and mapping, and other specialized aviation services. Bridger operates a fleet of aircraft designed for wildfire response and serves federal, state and local agencies, primarily in the United States.

The company became publicly traded on the Nasdaq following its business combination with Jack Creek Investment Corp.