Jeffrey Kelter Purchases 100,000 Shares of Bridger Aerospace Group (NASDAQ:BAER) Stock

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Director Jeffrey Kelter purchased 100,000 shares of Bridger Aerospace Group stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average price of $1.20 per share, with a total value of $120,000.00. Following the acquisition, the director owned 677,800 shares in the company, valued at approximately $813,360. This represents a 17.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Bridger Aerospace Group Price Performance

Shares of NASDAQ BAER traded down $0.01 during midday trading on Thursday, reaching $1.15. 925,383 shares of the company’s stock traded hands, compared to its average volume of 1,572,981. The stock’s 50 day simple moving average is $1.76 and its 200-day simple moving average is $2.03. Bridger Aerospace Group Holdings, Inc. has a one year low of $1.12 and a one year high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The business had revenue of $30.49 million during the quarter, compared to the consensus estimate of $37.04 million. Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.77%. Sell-side analysts forecast that Bridger Aerospace Group Holdings, Inc. will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BAER. First Manhattan CO. LLC. boosted its stake in shares of Bridger Aerospace Group by 43.5% during the 4th quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock worth $10,090,000 after acquiring an additional 1,671,375 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Bridger Aerospace Group by 530.0% during the fourth quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock worth $1,766,000 after buying an additional 811,899 shares in the last quarter. BlackRock Inc. acquired a new stake in Bridger Aerospace Group in the 2nd quarter valued at about $560,000. Walleye Capital LLC purchased a new position in Bridger Aerospace Group during the first quarter worth approximately $428,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Bridger Aerospace Group by 50.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 332,042 shares of the company’s stock worth $608,000 after acquiring an additional 110,788 shares during the period. Hedge funds and other institutional investors own 48.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BAER shares. Wall Street Zen raised Bridger Aerospace Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 15th. Stifel Nicolaus set a $3.00 price target on shares of Bridger Aerospace Group in a research report on Monday, August 10th. Lake Street Capital restated a “buy” rating and issued a $4.00 price target on shares of Bridger Aerospace Group in a report on Friday, August 7th. Canaccord Genuity Group reduced their price objective on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bridger Aerospace Group presently has an average rating of “Hold” and a consensus price target of $3.67.

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.