Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Stock Has Consensus Price Target of $3.67 According to Analysts

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

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

Bridger Aerospace Group Stock Down 5.6%

BAER opened at $0.83 on Tuesday. The stock has a market capitalization of $46.41 million, a price-to-earnings ratio of -0.98 and a beta of 0.29. The firm has a 50 day moving average price of $1.34 and a 200-day moving average price of $1.75. Bridger Aerospace Group has a twelve month low of $0.82 and a twelve month high of $3.44.

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

Insider Activity at Bridger Aerospace Group

In other Bridger Aerospace Group news, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 58,205 shares of the company’s stock, valued at approximately $98,948.50. This represents a 97.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1.04, for a total transaction of $2,889,248.96. Following the completion of the transaction, the insider owned 37,272 shares in the company, valued at $38,762.88. The trade was a 98.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 16.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bridger Aerospace Group

Several hedge funds and other institutional investors have recently modified their holdings of BAER. HB Wealth Management LLC bought a new position in shares of Bridger Aerospace Group during the 1st quarter valued at approximately $26,000. Vise Technologies Inc. bought a new stake in Bridger Aerospace Group during the 2nd quarter worth approximately $28,000. Janney Montgomery Scott LLC bought a new stake in Bridger Aerospace Group during the 1st quarter worth approximately $30,000. Corient Private Wealth LP purchased a new position in Bridger Aerospace Group during the second quarter valued at approximately $53,000. Finally, Ruggaard & Associates LLC purchased a new position in Bridger Aerospace Group during the second quarter valued at approximately $58,000. 48.94% of the stock is currently owned by hedge funds and other institutional investors.

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.