Bridger Aerospace Group (NASDAQ:BAER) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Bridger Aerospace Group (NASDAQ:BAER) from a sell rating to a strong sell rating in a research note published on Saturday morning.

Other research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 9th. Canaccord Genuity Group set a $4.50 price target on shares of Bridger Aerospace Group in a research note on Friday, May 8th. Zacks Research upgraded shares of Bridger Aerospace Group to a “hold” rating in a research note on Wednesday, April 1st. Finally, Stifel Nicolaus began coverage on shares of Bridger Aerospace Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $3.35 price target for the company. Two 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. According to data from MarketBeat, Bridger Aerospace Group has a consensus rating of “Hold” and an average price target of $3.93.

Bridger Aerospace Group Trading Down 3.5%

Shares of NASDAQ BAER opened at $1.67 on Friday. Bridger Aerospace Group has a 12 month low of $1.22 and a 12 month high of $3.44. The firm has a market capitalization of $93.39 million, a PE ratio of -1.99 and a beta of 0.28. The firm has a fifty day simple moving average of $2.01 and a two-hundred day simple moving average of $2.12.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.32). Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.05%.The company had revenue of $8.51 million during the quarter, compared to the consensus estimate of $17.23 million. On average, sell-side analysts predict that Bridger Aerospace Group will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of Bridger Aerospace Group in the 2nd quarter worth about $26,000. HB Wealth Management LLC bought a new stake in Bridger Aerospace Group during the 1st quarter valued at about $26,000. Janney Montgomery Scott LLC bought a new stake in Bridger Aerospace Group during the 1st quarter valued at about $30,000. Stifel Financial Corp increased its stake in Bridger Aerospace Group by 23.6% during the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock valued at $40,000 after purchasing an additional 4,180 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Bridger Aerospace Group during the 1st quarter valued at about $41,000. 48.94% of the stock is currently owned by 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.