Bridger Aerospace Group (NASDAQ:BAER) Rating Lowered to “Sell” at Wall Street Zen

Bridger Aerospace Group (NASDAQ:BAER) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

BAER has been the subject of a number of other reports. Weiss Ratings cut Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 6th. Stifel Nicolaus set a $3.00 target price on shares of Bridger Aerospace Group in a report on Monday, August 10th. Canaccord Genuity Group dropped their target price on shares of 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. Finally, Lake Street Capital reissued a “buy” rating and set a $4.00 price target on shares of Bridger Aerospace Group in a report on Friday, August 7th. Three equities 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. According to data from MarketBeat.com, Bridger Aerospace Group has a consensus rating of “Hold” and a consensus target price of $3.67.

Bridger Aerospace Group Stock Performance

BAER stock opened at $0.49 on Friday. Bridger Aerospace Group has a 1-year low of $0.46 and a 1-year high of $3.44. The business’s 50 day moving average is $0.87 and its 200-day moving average is $1.54. The firm has a market cap of $27.47 million, a P/E ratio of -0.58 and a beta of 0.36.

Bridger Aerospace Group (NASDAQ:BAER) last posted its 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 company had revenue of $30.49 million during the quarter, compared to analyst estimates of $37.04 million. Sell-side analysts forecast that Bridger Aerospace Group will post -0.64 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Bridger Aerospace Group

A number of institutional investors and hedge funds have recently bought and sold shares of BAER. BlackRock Inc. acquired a new stake in shares of Bridger Aerospace Group in the second quarter valued at $560,000. Peterson Wealth Advisors LLC grew its holdings in Bridger Aerospace Group by 11.8% during the 3rd quarter. Peterson Wealth Advisors LLC now owns 260,837 shares of the company’s stock worth $183,000 after acquiring an additional 27,514 shares during the last quarter. Walleye Capital LLC bought a new stake in Bridger Aerospace Group during the 1st quarter worth about $428,000. Bank of America Corp DE grew 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 worth $207,000 after acquiring an additional 104,576 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in Bridger Aerospace Group in the 1st quarter valued at about $169,000. Institutional investors and hedge funds own 48.94% of the company’s stock.

About Bridger Aerospace Group

Bridger Aerospace Group Co is an aerial firefighting and wildfire management company based in Montana. The company provides aircraft, crews and related services to help government agencies and other customers detect, contain and suppress wildfires.

Its operations include aerial delivery of fire retardant and water, wildfire surveillance, intelligence and mapping, and other specialized aviation services. Bridger operates a fleet of aircraft designed for wildfire response and serves federal, state and local agencies, primarily in the United States.

The company became publicly traded on the Nasdaq following its business combination with Jack Creek Investment Corp.