Bridger Aerospace Group (NASDAQ:BAER) Rating Lowered to Sell at Wall Street Zen

Bridger Aerospace Group (NASDAQ:BAER) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

BAER has been the subject of a number of other reports. Stifel Nicolaus set a $3.00 price target on shares of Bridger Aerospace Group in a research report on Monday, August 10th. Canaccord Genuity Group decreased their price objective on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Lake Street Capital reiterated a “buy” rating and issued a $4.00 target price on shares of Bridger Aerospace Group in a report on Friday, August 7th. Finally, Weiss Ratings lowered Bridger Aerospace Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 1st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.67.

Bridger Aerospace Group Price Performance

Shares of Bridger Aerospace Group stock opened at $1.04 on Friday. The firm has a market cap of $58.16 million, a PE ratio of -1.22 and a beta of 0.29. Bridger Aerospace Group has a 52 week low of $1.04 and a 52 week high of $3.44. The business’s fifty day simple moving average is $1.51 and its 200-day simple moving average is $1.84.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.77%.The business had revenue of $30.49 million for the quarter, compared to analyst estimates of $37.04 million. As a group, equities analysts expect that Bridger Aerospace Group will post -0.58 earnings per share for the current year.

Insider Activity at Bridger Aerospace Group

In related news, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of Bridger Aerospace Group stock in a transaction that occurred on Tuesday, August 4th. The shares were 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. The trade was a 97.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey E. Kelter bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average cost of $1.20 per share, for a total transaction of $120,000.00. Following the completion of the purchase, the director owned 677,800 shares in the company, valued at $813,360. This trade 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 Trading of Bridger Aerospace Group

Several hedge funds have recently modified their holdings of BAER. XTX Topco Ltd purchased a new position in Bridger Aerospace Group in the second quarter valued at $26,000. HB Wealth Management LLC purchased a new stake in Bridger Aerospace Group during the 1st quarter worth about $26,000. Vise Technologies Inc. purchased a new stake in Bridger Aerospace Group during the 2nd quarter worth about $28,000. Janney Montgomery Scott LLC acquired a new stake in Bridger Aerospace Group in the 1st quarter valued at about $30,000. Finally, Stifel Financial Corp raised its position in Bridger Aerospace Group by 23.6% in 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. 48.94% of the stock is currently owned by institutional investors and hedge funds.

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.