Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Stock Has Average Target Price of $3.67

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) has been assigned a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $3.67.

Several equities research analysts have commented on the stock. Stifel Nicolaus set a $3.00 price target on shares of Bridger Aerospace Group in a research report on Monday, August 10th. Canaccord Genuity Group reduced their target price on Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, August 10th. Wall Street Zen lowered shares of Bridger Aerospace Group from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Lake Street Capital reissued a “buy” rating and set a $4.00 price objective 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 research note on Friday, September 18th.

Bridger Aerospace Group Stock Performance

Shares of BAER opened at $0.75 on Tuesday. The firm has a market capitalization of $41.94 million, a price-to-earnings ratio of -0.88 and a beta of 0.29. The stock’s fifty day moving average is $1.29 and its 200-day moving average is $1.73. Bridger Aerospace Group has a one year low of $0.74 and a one year high of $3.44.

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

Insiders Place Their Bets

In other news, 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 value of $3,230,000.00. Following the sale, the insider directly owned 58,205 shares of the company’s stock, valued at approximately $98,948.50. This trade represents a 97.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider directly owned 37,272 shares in the company, valued at $38,762.88. This trade represents a 98.68% 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.

Institutional Trading of Bridger Aerospace Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LP acquired a new stake in Bridger Aerospace Group during the second quarter worth about $53,000. Ruggaard & Associates LLC bought a new stake in Bridger Aerospace Group in the second quarter valued at $58,000. Vise Technologies Inc. bought a new stake in shares of Bridger Aerospace Group in the 2nd quarter worth about $28,000. BlackRock Inc. acquired a new stake in shares of Bridger Aerospace Group during the second quarter worth approximately $560,000. Finally, Bank of America Corp DE increased its holdings in Bridger Aerospace Group by 255,063.4% during the 1st quarter. Bank of America Corp DE now owns 104,617 shares of the company’s stock valued at $207,000 after purchasing an additional 104,576 shares in the last quarter. 48.94% of the stock is currently owned by institutional investors and hedge funds.

Bridger Aerospace Group Company Profile

Bridger Aerospace Group is an aerial firefighting and aviation services company headquartered in Bozeman, Montana. The company provides wildfire suppression services primarily to federal, state and local government agencies, helping protect communities, natural resources and critical infrastructure during wildfire events.

Bridger Aerospace operates a specialized aircraft fleet that includes firefighting airtankers and amphibious aircraft used to deliver water or retardant to active fires.