Bridger Aerospace Group (NASDAQ:BAER) Stock Price Down 2.1% – What’s Next?

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) shares traded down 2.1% on Wednesday . The company traded as low as $1.82 and last traded at $1.83. 347,480 shares changed hands during trading, a decline of 61% from the average session volume of 884,544 shares. The stock had previously closed at $1.87.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Bridger Aerospace Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $3.35 target price on the stock. Lake Street Capital assumed coverage on shares of Bridger Aerospace Group in a research note on Wednesday, May 20th. They set a “buy” rating and a $4.50 target price on the stock. Weiss Ratings upgraded shares of Bridger Aerospace Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 2nd. Wall Street Zen cut shares of Bridger Aerospace Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, Canaccord Genuity Group set a $4.50 target price on shares of Bridger Aerospace Group in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.12.

Bridger Aerospace Group Trading Down 2.1%

The firm has a market cap of $106.25 million, a PE ratio of -2.26 and a beta of 0.33. The firm’s 50 day simple moving average is $2.02 and its 200 day simple moving average is $2.15.

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

Institutional Trading of Bridger Aerospace Group

Several hedge funds have recently made changes to their positions in BAER. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Bridger Aerospace Group during the 1st quarter valued at about $41,000. XTX Topco Ltd purchased a new stake in shares of Bridger Aerospace Group during the 2nd quarter valued at about $26,000. Jane Street Group LLC purchased a new stake in shares of Bridger Aerospace Group during the 2nd quarter valued at about $73,000. Bridgeway Capital Management LLC raised its position in shares of Bridger Aerospace Group by 555.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock valued at $148,000 after buying an additional 65,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Bridger Aerospace Group by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 809,615 shares of the company’s stock valued at $1,498,000 after buying an additional 59,482 shares in the last quarter. 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.