Wall Street Zen Upgrades Bridger Aerospace Group (NASDAQ:BAER) to “Hold”

Bridger Aerospace Group (NASDAQ:BAER) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a report released on Saturday.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group dropped their target price on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. 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 issued a $4.00 price target on shares of Bridger Aerospace Group in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.67.

Bridger Aerospace Group Price Performance

BAER opened at $1.25 on Friday. The firm has a market capitalization of $69.90 million, a P/E ratio of -1.47 and a beta of 0.35. The stock’s 50 day moving average price is $1.80 and its two-hundred day moving average price is $2.08. Bridger Aerospace Group has a 12-month low of $1.12 and a 12-month high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.77%.The business 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 -0.58 earnings per share for the current year.

Insider Transactions at Bridger Aerospace Group

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

Hedge Funds Weigh In On Bridger Aerospace Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. HB Wealth Management LLC acquired a new stake in Bridger Aerospace Group in the 1st quarter valued at $26,000. XTX Topco Ltd bought a new stake in Bridger Aerospace Group in the second quarter valued at $26,000. Vise Technologies Inc. acquired a new position in Bridger Aerospace Group during the second quarter worth $28,000. Janney Montgomery Scott LLC acquired a new position in Bridger Aerospace Group during the first quarter worth $30,000. Finally, Stifel Financial Corp lifted its holdings in shares of Bridger Aerospace Group by 23.6% during the fourth 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 during the period. Institutional investors own 48.94% of the company’s stock.

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.