Bridger Aerospace Group (NASDAQ:BAER) Upgraded to “Hold” at Wall Street Zen

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

Several other equities research analysts also recently weighed in on the company. Weiss Ratings raised Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 18th. Canaccord Genuity Group dropped their target price on Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Stifel Nicolaus set a $3.00 price target on Bridger Aerospace Group in a research report on Monday, August 10th. Finally, Lake Street Capital restated a “buy” rating and issued a $4.00 price target on shares of Bridger Aerospace Group in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bridger Aerospace Group presently has a consensus rating of “Hold” and an average target price of $3.67.

Bridger Aerospace Group Trading Down 0.3%

NASDAQ:BAER opened at $0.68 on Friday. The firm has a market capitalization of $38.03 million, a price-to-earnings ratio of -0.80 and a beta of 0.36. The firm’s fifty day simple moving average is $1.19 and its 200 day simple moving average is $1.69. Bridger Aerospace Group has a twelve month low of $0.54 and a twelve month high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The company had revenue of $30.49 million for the quarter, compared to analysts’ expectations of $37.04 million. On average, analysts predict that Bridger Aerospace Group will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Bridger Aerospace Group

In other Bridger Aerospace Group news, Director Jeffrey E. Kelter bought 100,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $1.20 per share, with a total value of $120,000.00. Following the completion of the transaction, the director owned 677,800 shares in the company, valued at $813,360. The trade was a 17.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $1.70, for a total value of $3,230,000.00. Following the completion of the transaction, the insider owned 58,205 shares in the company, valued at approximately $98,948.50. This trade represents a 97.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bridger Aerospace Group

A number of hedge funds have recently bought and sold shares of the business. HB Wealth Management LLC purchased a new stake in Bridger Aerospace Group during the 1st quarter worth approximately $26,000. Vise Technologies Inc. purchased a new position in shares of Bridger Aerospace Group during the 2nd quarter valued at approximately $28,000. Janney Montgomery Scott LLC acquired a new stake in shares of Bridger Aerospace Group during the first quarter worth approximately $30,000. Corient Private Wealth LP acquired a new stake in shares of Bridger Aerospace Group during the second quarter worth approximately $53,000. Finally, Ruggaard & Associates LLC acquired a new stake in shares of Bridger Aerospace Group during the second quarter worth approximately $58,000. Institutional investors and hedge funds own 48.94% of the company’s stock.

Bridger Aerospace Group Company Profile

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.