Bridger Aerospace Group (NASDAQ:BAER) Trading Down 4.6% – Should You Sell?

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) dropped 4.6% during mid-day trading on Friday . The stock traded as low as $2.63 and last traded at $2.67. Approximately 699,978 shares changed hands during trading, a decline of 22% from the average daily volume of 893,776 shares. The stock had previously closed at $2.80.

Analysts Set New Price Targets

BAER has been the topic of several recent analyst reports. Wall Street Zen cut Bridger Aerospace Group from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Bridger Aerospace Group in a research note on Monday, December 29th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $5.25 price objective on shares of Bridger Aerospace Group in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.25.

Bridger Aerospace Group Price Performance

The stock has a market capitalization of $148.29 million, a price-to-earnings ratio of -5.13 and a beta of 0.14. The company has a 50-day simple moving average of $2.00 and a two-hundred day simple moving average of $1.89.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $67.89 million for the quarter, compared to the consensus estimate of $48.40 million. Bridger Aerospace Group had a net margin of 4.96% and a negative return on equity of 1.91%.

Insider Buying and Selling at Bridger Aerospace Group

In other news, Director Jeffrey E. Kelter bought 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was acquired at an average price of $1.80 per share, with a total value of $360,000.00. Following the completion of the purchase, the director directly owned 627,800 shares of the company’s stock, valued at $1,130,040. This represents a 46.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 19.51% of the company’s stock.

Hedge Funds Weigh In On Bridger Aerospace Group

Several hedge funds have recently made changes to their positions in BAER. XTX Topco Ltd bought a new stake in shares of Bridger Aerospace Group in the 2nd quarter worth approximately $26,000. Dynamic Technology Lab Private Ltd acquired a new position in Bridger Aerospace Group in the first quarter worth approximately $41,000. Stanley Laman Group Ltd. bought a new position in shares of Bridger Aerospace Group in the fourth quarter valued at $52,000. Centiva Capital LP acquired a new stake in shares of Bridger Aerospace Group during the 3rd quarter valued at $53,000. Finally, Apollon Wealth Management LLC boosted its stake in shares of Bridger Aerospace Group by 34.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 39,000 shares of the company’s stock worth $72,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 48.94% of the company’s stock.

Bridger Aerospace Group Company Profile

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.