Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Receives Average Recommendation of “Hold” from Brokerages

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) has received a consensus rating of “Hold” from the five brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $3.6667.

A number of equities analysts recently issued reports on BAER shares. Stifel Nicolaus set a $3.00 price objective on Bridger Aerospace Group in a report on Monday, August 10th. Canaccord Genuity Group reduced their price target on Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Wall Street Zen raised Bridger Aerospace Group from a “strong sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $4.00 target price on shares of Bridger Aerospace Group in a research report on Friday, August 7th.

Insider Transactions at Bridger Aerospace Group

In related news, Director Jeffrey E. Kelter acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average price of $1.20 per share, for a total transaction of $120,000.00. Following the completion of the purchase, the director directly owned 677,800 shares of the company’s stock, valued at $813,360. The trade was a 17.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $1.70, for a total value of $3,230,000.00. Following the sale, the insider directly owned 58,205 shares in the company, valued at approximately $98,948.50. The trade was a 97.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Bridger Aerospace Group

Several hedge funds have recently modified their holdings of the company. First Manhattan CO. LLC. raised its stake in shares of Bridger Aerospace Group by 43.5% in the 4th quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock worth $10,090,000 after buying an additional 1,671,375 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Bridger Aerospace Group by 530.0% in the fourth quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock valued at $1,766,000 after buying an additional 811,899 shares during the period. BlackRock Inc. bought a new position in Bridger Aerospace Group during the second quarter valued at about $560,000. Walleye Capital LLC bought a new position in Bridger Aerospace Group during the first quarter valued at about $428,000. Finally, Goldman Sachs Group Inc. grew its holdings in Bridger Aerospace Group by 50.1% during the fourth 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. 48.94% of the stock is currently owned by institutional investors and hedge funds.

Bridger Aerospace Group Stock Down 0.9%

Bridger Aerospace Group stock opened at $1.15 on Friday. Bridger Aerospace Group has a 52-week low of $1.12 and a 52-week high of $3.44. The firm has a market capitalization of $64.31 million, a price-to-earnings ratio of -1.35 and a beta of 0.35. The firm has a 50-day moving average price of $1.68 and a two-hundred day moving average price of $1.96.

Bridger Aerospace Group (NASDAQ:BAER) last announced 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). The firm had revenue of $30.49 million during the quarter, compared to analyst estimates of $37.04 million. Bridger Aerospace Group had a negative net margin of 10.77% and a negative return on equity of 1.21%. Research analysts expect that Bridger Aerospace Group will post -0.58 earnings per share for the current year.

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.