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

Wall Street Zen downgraded shares of Bridger Aerospace Group (NASDAQ:BAER) from a buy rating to a hold rating in a research note released on Saturday.

A number of other research analysts have also weighed in on the company. Weiss Ratings raised Bridger Aerospace Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Canaccord Genuity Group reissued a “buy” rating and issued a $5.25 target price on shares of Bridger Aerospace Group in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Bridger Aerospace Group Stock Performance

Shares of BAER opened at $2.16 on Friday. Bridger Aerospace Group has a fifty-two week low of $1.02 and a fifty-two week high of $3.44. The firm’s 50-day simple moving average is $2.56 and its two-hundred day simple moving average is $2.06. The stock has a market cap of $119.97 million, a PE ratio of -3.86 and a beta of 0.19.

Bridger Aerospace Group (NASDAQ:BAER) last released its earnings results on Thursday, March 5th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.10). Bridger Aerospace Group had a net margin of 3.37% and a negative return on equity of 1.22%. The business had revenue of $8.55 million for the quarter, compared to analysts’ expectations of $6.50 million.

Institutional Investors Weigh In On Bridger Aerospace Group

Institutional investors have recently made changes to their positions in the company. First Manhattan CO. LLC. increased its position in shares of Bridger Aerospace Group by 43.5% during the fourth quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock valued at $10,090,000 after acquiring an additional 1,671,375 shares in the last quarter. Marshall Wace LLP lifted its position in Bridger Aerospace Group by 530.0% in the 4th quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock valued at $1,766,000 after acquiring an additional 811,899 shares in the last quarter. Vanguard Group Inc. lifted its position in Bridger Aerospace Group by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 809,615 shares of the company’s stock valued at $1,498,000 after acquiring an additional 59,482 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Bridger Aerospace Group by 50.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 332,042 shares of the company’s stock valued at $608,000 after purchasing an additional 110,788 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Bridger Aerospace Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 284,601 shares of the company’s stock worth $521,000 after purchasing an additional 5,959 shares in the last quarter. Hedge funds and other 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.