Bridger Aerospace Group (NASDAQ:BAER) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Bridger Aerospace Group (NASDAQ:BAER) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $3.35 price target on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 81.57% from the stock’s current price.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Bridger Aerospace Group from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 15th. Canaccord Genuity Group dropped their price objective on Bridger Aerospace Group from $5.25 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Finally, Weiss Ratings cut shares of Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bridger Aerospace Group has a consensus rating of “Hold” and an average target price of $4.18.

Bridger Aerospace Group Stock Up 7.3%

Shares of BAER stock opened at $1.85 on Tuesday. The stock has a 50 day moving average of $2.47 and a 200-day moving average of $2.06. The firm has a market cap of $103.17 million, a PE ratio of -3.31 and a beta of 0.19. Bridger Aerospace Group has a 12 month low of $1.02 and a 12 month high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.40) 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 1.21%. The firm had revenue of $8.55 million during the quarter, compared to analyst estimates of $6.50 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new position in Bridger Aerospace Group during the first quarter valued at about $41,000. XTX Topco Ltd purchased a new stake in Bridger Aerospace Group in the second quarter valued at approximately $26,000. Jane Street Group LLC bought a new stake in Bridger Aerospace Group during the second quarter valued at approximately $73,000. Bridgeway Capital Management LLC increased its holdings in shares of Bridger Aerospace Group by 555.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock worth $148,000 after buying an additional 65,000 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in shares of Bridger Aerospace Group by 34.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 39,000 shares of the company’s stock worth $72,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 48.94% of the company’s stock.

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.