Bridger Aerospace Group (NASDAQ:BAER) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Bridger Aerospace Group (NASDAQ:BAER) from a hold rating to a strong sell rating in a report released on Sunday.

Other analysts have also issued research reports about the company. Weiss Ratings lowered Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 9th. Canaccord Genuity Group decreased their price target on Bridger Aerospace Group from $5.25 to $5.00 and set a “buy” rating for the company in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bridger Aerospace Group has a consensus rating of “Hold” and a consensus target price of $5.00.

Bridger Aerospace Group Trading Up 7.6%

Shares of BAER opened at $2.12 on Friday. The stock has a market capitalization of $118.55 million, a price-to-earnings ratio of -3.79 and a beta of 0.18. Bridger Aerospace Group has a 12 month low of $1.02 and a 12 month high of $3.44. The firm has a fifty day simple moving average of $2.58 and a 200 day simple moving average of $2.06.

Bridger Aerospace Group (NASDAQ:BAER) last issued 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 negative return on equity of 1.21% and a net margin of 3.37%.The business had revenue of $8.55 million for the quarter, compared to the consensus estimate of $6.50 million.

Hedge Funds Weigh In On Bridger Aerospace Group

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Bridger Aerospace Group by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 809,615 shares of the company’s stock worth $1,498,000 after acquiring an additional 59,482 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Bridger Aerospace Group by 50.1% during the fourth 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Bridger Aerospace Group by 2.1% during the fourth 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 during the last quarter. State Street Corp boosted its holdings in Bridger Aerospace Group by 32.1% during the fourth quarter. State Street Corp now owns 101,280 shares of the company’s stock worth $185,000 after purchasing an additional 24,600 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Bridger Aerospace Group in the 4th quarter worth about $84,000. 48.94% of the stock is owned by hedge funds and other institutional investors.

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.