Bridger Aerospace Group (NASDAQ:BAER) Coverage Initiated by Analysts at Lake Street Capital

Stock analysts at Lake Street Capital initiated coverage on shares of Bridger Aerospace Group (NASDAQ:BAER) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $4.50 price target on the stock. Lake Street Capital’s price target would indicate a potential upside of 169.46% from the company’s current price.

A number of other analysts have also weighed in on the stock. Zacks Research raised shares of Bridger Aerospace Group to a “hold” rating in a report on Wednesday, April 1st. Weiss Ratings lowered shares of Bridger Aerospace Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday. Canaccord Genuity Group set a $4.50 price objective on Bridger Aerospace Group in a research report on Friday, May 8th. Stifel Nicolaus began coverage on Bridger Aerospace Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $3.35 price objective for the company. Finally, Wall Street Zen lowered Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.12.

Bridger Aerospace Group Stock Down 1.2%

Shares of NASDAQ BAER opened at $1.67 on Wednesday. The company has a market cap of $93.39 million, a P/E ratio of -1.99 and a beta of 0.28. Bridger Aerospace Group has a 52 week low of $1.22 and a 52 week high of $3.44. The business has a 50-day simple moving average of $1.99 and a two-hundred day simple moving average of $2.12.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.32). Bridger Aerospace Group had a negative net margin of 10.05% and a negative return on equity of 1.21%. The company had revenue of $8.51 million for the quarter, compared to the consensus estimate of $17.23 million. Equities research analysts anticipate that Bridger Aerospace Group will post -0.49 EPS for the current year.

Institutional Trading of Bridger Aerospace Group

Institutional investors have recently added to or reduced their stakes in the business. First Manhattan CO. LLC. increased its holdings in shares of Bridger Aerospace Group by 43.5% in the fourth quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company’s stock worth $10,090,000 after buying an additional 1,671,375 shares during the period. Marshall Wace LLP grew its position in Bridger Aerospace Group by 530.0% during the 4th quarter. Marshall Wace LLP now owns 965,091 shares of the company’s stock worth $1,766,000 after acquiring an additional 811,899 shares during the last quarter. Walleye Capital LLC purchased a new position in Bridger Aerospace Group in the 1st quarter worth approximately $428,000. Goldman Sachs Group Inc. lifted its position in Bridger Aerospace Group by 50.1% in 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 during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Bridger Aerospace Group by 255,063.4% during the first quarter. Bank of America Corp DE now owns 104,617 shares of the company’s stock valued at $207,000 after purchasing an additional 104,576 shares during the period. 48.94% of the stock is currently owned by hedge funds and other institutional investors.

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.