Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) have been given a consensus rating of “Hold” by the five brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $3.67.

Several research firms recently issued reports on BAER. Canaccord Genuity Group lowered their price objective on Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Weiss Ratings lowered Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 6th. Lake Street Capital reissued a “buy” rating and issued a $4.00 target price on shares of Bridger Aerospace Group in a report on Friday, August 7th. Stifel Nicolaus set a $3.00 price target on Bridger Aerospace Group in a research note on Monday, August 10th. Finally, Wall Street Zen raised Bridger Aerospace Group from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd.

Bridger Aerospace Group Stock Performance

Shares of NASDAQ:BAER traded up $0.01 during trading on Friday, reaching $0.52. 200,490 shares of the stock traded hands, compared to its average volume of 781,717. The stock has a 50-day moving average of $0.95 and a two-hundred day moving average of $1.60. Bridger Aerospace Group has a 52-week low of $0.50 and a 52-week high of $3.44. The stock has a market cap of $28.87 million, a P/E ratio of -0.61 and a beta of 0.36.

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 the consensus estimate of ($0.03) by ($0.10). The company had revenue of $30.49 million for the quarter, compared to the consensus estimate of $37.04 million. Sell-side analysts expect that Bridger Aerospace Group will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In other Bridger Aerospace Group news, 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 of the company’s stock, valued at approximately $98,948.50. The trade was a 97.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey E. Kelter bought 100,000 shares of the stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $1.20 per share, for a total transaction of $120,000.00. Following the purchase, the director directly owned 677,800 shares in the company, valued at approximately $813,360. This trade represents a 17.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 16.36% of the stock is owned by corporate insiders.

Institutional Trading of Bridger Aerospace Group

A number of large investors have recently made changes to their positions in BAER. HB Wealth Management LLC bought a new position in Bridger Aerospace Group during the first quarter valued at approximately $26,000. Vise Technologies Inc. purchased a new stake in Bridger Aerospace Group in the second quarter worth approximately $28,000. Janney Montgomery Scott LLC bought a new stake in Bridger Aerospace Group in the 1st quarter worth approximately $30,000. Corient Private Wealth LP bought a new stake in Bridger Aerospace Group in the 2nd quarter worth approximately $53,000. Finally, Ruggaard & Associates LLC bought a new stake in Bridger Aerospace Group in the 2nd quarter worth approximately $58,000. 48.94% of the stock is currently owned by institutional investors.

About Bridger Aerospace Group

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.