Canaccord Genuity Group Cuts Bridger Aerospace Group (NASDAQ:BAER) Price Target to $5.00

Bridger Aerospace Group (NASDAQ:BAER) had its price objective dropped by research analysts at Canaccord Genuity Group from $5.25 to $5.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 127.27% from the company’s current price.

BAER has been the subject of a number of other reports. Weiss Ratings raised shares of Bridger Aerospace Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Wall Street Zen lowered Bridger Aerospace Group from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bridger Aerospace Group has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Bridger Aerospace Group Price Performance

BAER opened at $2.20 on Monday. The firm has a market capitalization of $122.19 million, a PE ratio of -3.93 and a beta of 0.19. Bridger Aerospace Group has a fifty-two week low of $1.02 and a fifty-two week high of $3.44. The company’s 50-day moving average is $2.56 and its 200 day moving average is $2.06.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly 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 negative return on equity of 1.22% and a net margin of 3.37%.The company had revenue of $8.55 million for the quarter, compared to the consensus estimate of $6.50 million.

Institutional Trading of Bridger Aerospace Group

Hedge funds have recently made changes to their positions in the business. Stifel Financial Corp lifted its stake in shares of Bridger Aerospace Group by 23.6% in the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock valued at $40,000 after purchasing an additional 4,180 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Bridger Aerospace Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 284,601 shares of the company’s stock valued at $521,000 after purchasing an additional 5,959 shares during the period. Apollon Wealth Management LLC grew its stake in Bridger Aerospace Group by 34.5% in 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 in the last quarter. XTX Topco Ltd purchased a new position in Bridger Aerospace Group in the second quarter worth $26,000. Finally, State Street Corp increased its position in shares of Bridger Aerospace Group by 32.1% in the 4th quarter. State Street Corp now owns 101,280 shares of the company’s stock valued at $185,000 after acquiring an additional 24,600 shares during the period. 48.94% of the stock is currently owned by hedge funds and other institutional investors.

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.