Bridger Aerospace Group (NASDAQ:BAER) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Bridger Aerospace Group (NASDAQ:BAER) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

BAER has been the topic of a number of other research reports. Stifel Nicolaus set a $3.00 price target on Bridger Aerospace Group in a research report on Monday, August 10th. Canaccord Genuity Group cut their price objective on 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. Weiss Ratings downgraded Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 6th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $4.00 target price on shares of Bridger Aerospace Group in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.67.

Bridger Aerospace Group Stock Up 4.4%

BAER stock opened at $0.49 on Friday. The company’s 50-day simple moving average is $0.87 and its 200-day simple moving average is $1.55. Bridger Aerospace Group has a 52-week low of $0.46 and a 52-week high of $3.44. 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 analysts’ consensus estimates of ($0.03) by ($0.10). The firm had revenue of $30.49 million during the quarter, compared to analysts’ expectations of $37.04 million. On average, analysts anticipate that Bridger Aerospace Group will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey E. Kelter bought 100,000 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director directly owned 677,800 shares of the company’s stock, valued at approximately $813,360. This trade represents a 17.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 58,205 shares of the company’s stock, valued at approximately $98,948.50. This trade represents a 97.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Bridger Aerospace Group

Several institutional investors have recently bought and sold shares of BAER. BlackRock Inc. acquired a new position in Bridger Aerospace Group in the 2nd quarter valued at $560,000. Walleye Capital LLC purchased a new position in Bridger Aerospace Group in the 1st quarter valued at $428,000. Bank of America Corp DE boosted its stake 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 purchasing an additional 104,576 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Bridger Aerospace Group during the 1st quarter worth $169,000. Finally, Penbrook Management LLC acquired a new stake in Bridger Aerospace Group during the 3rd quarter worth $58,000. 48.94% of the stock is currently owned by institutional investors and hedge funds.

Bridger Aerospace Group Company Profile

Bridger Aerospace Group Holdings, Inc is an aerial firefighting and wildfire management company based in Bozeman, Montana. The company provides specialized aviation services designed to help government agencies and other customers detect, monitor and suppress wildfires.

Bridger operates a fleet of firefighting and surveillance aircraft, including air tankers and amphibious aircraft. Its services include aerial wildfire suppression, fire mapping, intelligence and reconnaissance, transportation, and other aviation support activities.