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

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) has been given a consensus rating of “Hold” by the five ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $3.67.

BAER has been the subject of several research reports. Weiss Ratings lowered shares of Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 6th. Canaccord Genuity Group lowered 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. Wall Street Zen raised shares of Bridger Aerospace Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Stifel Nicolaus set a $3.00 price objective on shares of Bridger Aerospace Group in a report on Monday, August 10th. Finally, Lake Street Capital restated a “buy” rating and issued a $4.00 price objective on shares of Bridger Aerospace Group in a report on Friday, August 7th.

Insider Activity

In related news, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1.04, for a total value of $2,889,248.96. Following the sale, the insider owned 37,272 shares in the company, valued at $38,762.88. This represents a 98.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey E. Kelter acquired 100,000 shares of Bridger Aerospace Group stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $1.20 per share, with a total value of $120,000.00. Following the transaction, the director owned 677,800 shares in the company, valued at $813,360. This represents a 17.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 16.36% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Bridger Aerospace Group in the second quarter worth $560,000. Walleye Capital LLC purchased a new position in shares of Bridger Aerospace Group in the 1st quarter worth about $428,000. Bank of America Corp DE raised its position in shares of Bridger Aerospace Group by 255,063.4% in 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 bought a new position in Bridger Aerospace Group in the 1st quarter worth about $169,000. Finally, Penbrook Management LLC bought a new position in Bridger Aerospace Group in the 3rd quarter worth about $58,000. Hedge funds and other institutional investors own 48.94% of the company’s stock.

Bridger Aerospace Group Price Performance

BAER stock traded up $0.01 during midday trading on Friday, hitting $0.52. The stock had a trading volume of 200,490 shares, compared to its average volume of 781,717. The business has a 50-day moving average of $0.95 and a two-hundred day moving average of $1.60. The firm has a market cap of $28.87 million, a price-to-earnings ratio of -0.61 and a beta of 0.36. Bridger Aerospace Group has a 52-week low of $0.50 and a 52-week high of $3.44.

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

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.