Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Stock Now Rated “Hold” by Wall Street Brokerages

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) has been given an average rating of “Hold” by the five ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $3.67.

Several analysts have recently commented on BAER shares. Wall Street Zen downgraded shares of Bridger Aerospace Group from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Weiss Ratings raised Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 18th. Lake Street Capital restated a “buy” rating and set a $4.00 price target on shares of Bridger Aerospace Group in a research note on Friday, August 7th. Stifel Nicolaus set a $3.00 price objective on shares of Bridger Aerospace Group in a research note on Monday, August 10th. Finally, Canaccord Genuity Group decreased their target price on Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, August 10th.

Bridger Aerospace Group Trading Down 4.4%

NASDAQ BAER opened at $0.79 on Tuesday. The firm has a market capitalization of $44.36 million, a PE ratio of -0.93 and a beta of 0.29. The business’s 50-day moving average price is $1.31 and its two-hundred day moving average price is $1.74. Bridger Aerospace Group has a 12 month low of $0.78 and a 12 month high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The business had revenue of $30.49 million during the quarter, compared to the consensus estimate of $37.04 million. Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.77%. As a group, analysts forecast that Bridger Aerospace Group will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $1.04, for a total value of $2,889,248.96. Following the completion of the sale, the insider owned 37,272 shares of the company’s stock, valued at approximately $38,762.88. The trade was a 98.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $1.70, for a total transaction of $3,230,000.00. Following the sale, the insider owned 58,205 shares of the company’s stock, valued at $98,948.50. This represents a 97.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.36% of the stock is currently owned by insiders.

Institutional Trading of Bridger Aerospace Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LP bought a new stake in shares of Bridger Aerospace Group during the second quarter valued at approximately $53,000. Ruggaard & Associates LLC bought a new stake in shares of Bridger Aerospace Group during the 2nd quarter valued at about $58,000. Vise Technologies Inc. purchased a new stake in shares of Bridger Aerospace Group during the 2nd quarter valued at about $28,000. BlackRock Inc. purchased a new stake in shares of Bridger Aerospace Group during the 2nd quarter valued at about $560,000. Finally, Bank of America Corp DE lifted its stake in shares of Bridger Aerospace Group by 255,063.4% in the 1st quarter. Bank of America Corp DE now owns 104,617 shares of the company’s stock worth $207,000 after purchasing an additional 104,576 shares during the period. Hedge funds and other institutional investors own 48.94% of the company’s stock.

About Bridger Aerospace Group

Bridger Aerospace Group is an aerial firefighting and aviation services company headquartered in Bozeman, Montana. The company provides wildfire suppression services primarily to federal, state and local government agencies, helping protect communities, natural resources and critical infrastructure during wildfire events.

Bridger Aerospace operates a specialized aircraft fleet that includes firefighting airtankers and amphibious aircraft used to deliver water or retardant to active fires.