Bridger Aerospace Group (NASDAQ:BAER) Rating Increased to Hold at Zacks Research

Bridger Aerospace Group (NASDAQ:BAER) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently commented on BAER. Weiss Ratings cut shares of Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 9th. Stifel Nicolaus initiated coverage on shares of Bridger Aerospace Group in a research report on Tuesday. They set a “buy” rating and a $3.35 price target on the stock. Wall Street Zen downgraded shares of Bridger Aerospace Group from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 15th. Finally, Canaccord Genuity Group lowered their price objective on shares of Bridger Aerospace Group from $5.25 to $5.00 and set a “buy” rating for the company in a report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.18.

Bridger Aerospace Group Stock Performance

BAER opened at $2.02 on Wednesday. The stock has a market capitalization of $112.96 million, a PE ratio of -3.61 and a beta of 0.27. The stock’s 50 day moving average price is $2.42 and its 200-day moving average price is $2.06. Bridger Aerospace Group has a 52-week low of $1.02 and a 52-week high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.10). The business had revenue of $8.55 million during the quarter, compared to analysts’ expectations of $6.50 million. Bridger Aerospace Group had a negative return on equity of 1.21% and a net margin of 3.37%.

Hedge Funds Weigh In On Bridger Aerospace Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in shares of Bridger Aerospace Group during the 2nd quarter valued at $26,000. Stifel Financial Corp increased 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 worth $40,000 after acquiring an additional 4,180 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Bridger Aerospace Group during the 1st quarter valued at about $41,000. Stanley Laman Group Ltd. purchased a new position in Bridger Aerospace Group during the 4th quarter valued at about $52,000. Finally, Centiva Capital LP bought a new stake in Bridger Aerospace Group during the third quarter worth about $53,000. 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.