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

Bridger Aerospace Group (NASDAQ:BAER) had its target price trimmed by Canaccord Genuity Group from $6.00 to $5.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Bridger Aerospace Group Stock Down 5.8 %

NASDAQ:BAER opened at $1.63 on Monday. Bridger Aerospace Group has a 52 week low of $1.43 and a 52 week high of $6.20. The company has a fifty day simple moving average of $2.36 and a two-hundred day simple moving average of $2.52. The company has a market cap of $88.10 million, a price-to-earnings ratio of -1.19 and a beta of -0.14.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The business had revenue of $15.59 million during the quarter, compared to the consensus estimate of $9.70 million. During the same quarter last year, the business posted ($0.67) EPS.

Institutional Investors Weigh In On Bridger Aerospace Group

Several institutional investors have recently modified their holdings of BAER. First Manhattan CO. LLC. raised its stake in Bridger Aerospace Group by 3.8% in the fourth quarter. First Manhattan CO. LLC. now owns 1,379,705 shares of the company’s stock valued at $2,939,000 after buying an additional 50,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Bridger Aerospace Group by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 369,617 shares of the company’s stock valued at $788,000 after acquiring an additional 18,243 shares during the last quarter. Baird Financial Group Inc. acquired a new stake in shares of Bridger Aerospace Group during the 4th quarter worth about $604,000. Cerity Partners LLC lifted its stake in Bridger Aerospace Group by 456.6% during the fourth quarter. Cerity Partners LLC now owns 216,751 shares of the company’s stock worth $462,000 after purchasing an additional 177,811 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC acquired a new position in Bridger Aerospace Group in the third quarter valued at approximately $433,000. 48.94% of the stock is owned by hedge funds and other institutional investors.

Bridger Aerospace Group Company Profile

Bridger Aerospace Group Holdings, Inc provides aerial wildfire management, relief and suppression, and firefighting services to federal and state government agencies in the United States. It offers fire suppression services, such as direct fire suppression aerial firefighting support services for ground crew to drop large amounts of water quickly and directly on wildfires.